Sensex, Nifty Seen Higher At Open
(RTTNews) - Indian shares may see modest gains at open on Monday as investors react to a mixed U.S. jobs report released on Friday.
The quarterly earnings season enters its last leg this week with prominent companies like Coal India, Life Insurance Corporation of India, One97 Communications Tata Motors and Zomato likely to unveil their financial results during the week. Last week, benchmark indexes Sensex and Nifty rose around 1.9 percent and 1.6 percent, respectively with underlying sentiment supported by solid corporate earnings.
Asian stocks traded mixed this morning, commodity prices slipped, and the dollar gained ground in international markets after Beijing denied it was considering easing its zero-COVID-19 policy, raising concerns over slowing economic growth.
Oil prices fell more than 1 percent in Asian trade after settling up by more than 5 percent on Friday.
U.S. stocks saw much volatility before eventually ending sharply higher on Friday, as October's jobs report showing strong jobs growth and an uptick in unemployment rate left analysts divided.
Meanwhile, comments from four Fed officials sounded less hawkish than Chair Jerome Powell.
The Dow, the S&P 500 and the tech-heavy Nasdaq Composite rose between 1.3 percent and 1.4 percent after closing lower for four straight sessions.
European stocks rallied on Friday after reports emerged that China would relax its COVID-19 restrictions.
The pan European STOXX 600 jumped 1.8 percent. The German DAX climbed 2.5 percent, France's CAC 40 index surged 2.8 percent and the U.K.'s FTSE 100 added 2 percent.
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