Sensex, Nifty Seen Opening On Cautious Note

(RTTNews) - Indian shares look set to open on a cautious note Monday as investors await cues from the quarterly earnings season, with TCS all set to unveil its financial results later in the week.

HDFC group stocks could be in focus after stock exchanges gave approval for the mega HDFC-HDFC Bank merger.

Asian markets traded mixed this morning despite Wall Street bouncing back to a higher close on Friday.

The dollar held firm on worries about slowing global growth while oil prices slipped after rising more than 2 percent in the previous session.

Traders await the FOMC meeting minutes, key speeches by Fed officials and the June jobs report this week for clues about the long-term outlook for the U.S. economy.

U.S. stocks rose sharply on Friday and Treasury yields extended recent decline, as weak manufacturing and construction spending data helped raise expectations that the Federal Reserve might opt for a less aggressive pace of rate hikes in the months ahead.

The Dow and the S&P 500 both climbed around 1.1 percent while the tech-heavy Nasdaq Composite shed 0.9 percent.

European stocks ended narrowly mixed on Friday after the release of worrisome manufacturing and inflation data. The pan European Stoxx 600 closed flat with a negative bias.

The German DAX edged up 0.2 percent and France's CAC 40 index inched up 0.1 percent, while the U.K.'s FTSE 100 finished marginally lower.