FX.co ★ Sensex, Nifty Set To Follow Asian Peers Lower

Investors are eagerly awaiting a series of central bank decisions, likely causing Indian stocks to open gently on Tuesday. Treading lightly through volatile trading, the principal indexes Sensex and Nifty experienced minor growth on Monday, driven largely by metal stocks and automakers. The Indian Rupee dipped minimally, closing at 82.90 against the dollar.

Asia's markets were generally subdued in anticipation of rate decisions by the Bank of Japan (BOJ) and the Reserve Bank of Australia (RBA). Unease concerning China persisted following accusations of a $78bn fraud perpetrated by property tycoon Evergrande and its founder, Hui Ka Yan, in the lead-up to the company's collapse.

Anticipating the Federal Open Market Committee's (FOMC) rate decision on Wednesday, the Dollar increased in value, as traders hold their breath for potential changes to the US central bank's 'dot plot'. The price of oil maintained its gains due to concerns about supply, while the value of gold remained fairly consistent after increasing in the previous session.

Despite uncertainty over Federal easing causing Treasury yields to hit a three-week peak, US stocks saw a modest increase. A resurgence of interest in Advanced Intelligence (AI) pushed the Nasdaq Composite up by 0.8 percent. Breaking from a succession of losses, the S&P 500 grew by 0.6 percent and the Dow saw minor growth of 0.2 percent.

European stocks had a subdued close to Monday's trading in anticipation of a week of central bank decisions. The pan-European STOXX 600 decreased slightly by 0.2 percent. Similarly, Germany's DAX and the UK's FTSE 100 both ended the day with negligible losses, while France's CAC 40 fell by 0.2 percent.