Sensex, Nifty Seen Higher On US Tech Rally, Fed Comments
(RTTNews) - Indian shares look set to open higher on Monday as investors hope for less aggressive monetary tightening by the U.S. Federal Reserve.
Markets may see stock-specific action today as investors react to the latest earnings updates from Reliance Industries, ICICI Bank and Kotak Mahindra Bank.
Axis Bank, Bajaj Auto, Bajaj Finance, DLF, Maruti Suzuki India, Tata Motors and Vedanta are due to unveil their quarterly earnings results this week.
Volatility is set to remain high this week because of the Republic Day holiday on Thursday and the impending F&O expiry scheduled for Wednesday.
Asian stocks traded mixed in thin trade, with markets in mainland China, Hong Kong, Singapore and Seoul closed for Lunar New Year celebrations.
Gold ticked higher on dollar weakness, while oil eased after hitting the highest level since mid-November Friday on optimism over increased demand from China.
U.S. stocks rose sharply on Friday, as streaming giant Netflix reported stronger than expected subscriber growth, Google parent Alphabet revealed a plan to cut 12,000 jobs globally and Fed officials Patrick Harker and Christopher Waller said they favor a 25-basis-point rate hike at the next meeting.
The tech-heavy Nasdaq Composite jumped 2.7 percent and the S&P 500 added 1.9 percent to mark its first gain in four days while the Dow gained 1 percent.
The German DAX rose 0.8 percent, France's CAC 40 index edged up 0.6 percent and the U.K.'s FTSE 100 inched up 0.3 percent.
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