Sensex, Nifty May See Tepid On Start On Wall Street Cues

(RTTNews) - Indian shares look set to open a tad lower on Monday, tracking weak Wall Street cues and a sharp rise in oil prices on Friday.

On the positive side, official data showed India's GST collections grew 15 percent in December.

The movement in the U.S. dollar index, monthly auto sales data and manufacturing and service PMI numbers for December may sway sentiment as the week progresses.

Tata Consultancy Services (TCS) will kick start the third quarter earnings season for FY23 in the IT sector on January 9th.

Globally, China's official PMI data released over the last weekend showed factory activity in the country shrank for the third straight month in December.

The FOMC minutes for December policy meeting scheduled to be released on Thursday will be closely watched by investors.

Benchmark indexes Sensex and Nifty rose over 4 percent each in 2022, outperforming the world's large market indexes.

Most Asian markets remain closed this morning for New Year Day holiday. South Korea's Kospi average was up half a percent. The yen started 2003 with modest gains in thin holiday trading.

U.S. stocks ended slightly lower on Friday to book their worst annual losses since 2008 amid worries about the economic and corporate earnings outlook.

The Dow slipped 0.2 percent, the tech-heavy Nasdaq Composite eased 0.1 percent and the S&P 500 shed 0.3 percent as data showed contraction in Chicago-area business activity eased in December.

European stocks ended the final session of Year 2022 on a very weak note Friday on fears about a recession and surging COVID cases in China.

The pan European STOXX 600 fell 1.3 percent and logged its worst performance since 2018. The German DAX lost 1.1 percent, France's CAC 40 tumbled 1.5 percent and the U.K.'s FTSE 100 dropped 0.8 percent.