Sensex, Nifty Seen Up As Wall Street Extends Rally

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Sensex, Nifty Seen Up As Wall Street Extends Rally

(RTTNews) - Indian shares are likely to open higher Tuesday on the back of firm global cues and Axis Bank's upbeat earnings results for the December quarter. The private sector lender reported a 62 percent jump in quarterly profit despite a rise in provisions.

That said, volatility cannot be ruled out ahead of a public holiday on Thursday and the impending F&O expiry.

Benchmark indexes Sensex and Nifty ended Monday's session modestly higher while the rupee fell from a near two-month high to close 21 paise lower at 81.38 against the dollar.

Asian markets were seeing modest gains in thin holiday trade amid bets for less-aggressive rate hikes from the Federal Reserve.

Oil and gold prices were flat to slightly higher as investors awaited more U.S. data this week for additional clues on the rate outlook.

U.S. stocks jumped overnight to extend big gains from Friday as investors reacted to a stream of corporate news and earnings results.

The tech-heavy Nasdaq Composite climbed 2 percent and the S&P 500 rose 1.2 percent to reach their best closing levels in over a month while the Dow added 0.8 percent.

European stocks eked out modest gains on Monday amid hopes that inflation could be past its peak.

The pan European STOXX 600 advanced half a percent. The German DAX and France's CAC 40 index both gained around half a percent while the U.K.'s FTSE 100 edged up 0.2 percent.

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Australian Market Notably Lower

Australian Market Notably Lower

The Australian stock market is trading notably lower on Friday, extending the slight losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,800 level, with weakness in energy, financial and technology stocks partially offset by gains in mining stocks.
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Japan Overall Bank Lending Climbs 3.2% On Year

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The Singapore stock market has climbed higher in four straight sessions, gathering more than 100 points or 2.4 percent along the way. The Straits Times Index now sits just beneath the 4,260-point plateau although investors may lock in gains on Friday.
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Japan Household Spending Slumps 5.2% In June

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The average of household spending in Japan was down a seasonally adjusted 5.2 percent on month in June, the Ministry of Internal Affairs and Communications aid on Friday - coming in at 316,085 yen.
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The Malaysia stock market has moved higher in three straight sessions, collecting more than 20 points or 1.5 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,550-point plateau although it's due for consolidation on Friday.
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