Sensex, Nifty Likely To See Muted Start

RTTNews | 243日前
Sensex, Nifty Likely To See Muted Start

(RTTNews) - Indian shares are seen opening flat to slightly lower on Monday after U.S. equities fell sharply on Friday, dragged down by technology stocks.

Other Asian markets traded mixed this morning, with the MSCI Asia Pacific Index snapping a five-day rally amid rising global uncertainties and caution ahead of the year-end holiday season.

Monthly auto sales figures, PMI data, FII flows and currency movements may sway markets as the week progresses.

Traders also await cues from the Q3 earnings season and upcoming Union Budget for 2025-26.

Economists believe the Budget will likely focus on reforms that will stimulate consumption, manufacturing and spur employment.

Last week, the BSE Sensex rose 657.48 points, or 0.84 percent, while the broader Nifty index added 225.9 points, or 0.95 percent.

The dollar was resilient in Asian trade, with the yen hovering near five-month lows against the greenback due to rising U.S. yields.

Oil and gold prices were seeing marginal gains in lackluster trade, heading into a holiday-shortened week.

U.S. stocks tumbled on Friday as yields on 10-Year Treasury Note rose to near 8-month high, prompting profit-taking across the board ahead of the new year and thwarting the seasonal Santa Claus rally.

The Dow shed 0.8 percent to snap a five-session winning streak but rose 1.4 percent for the week.

The S&P 500 and Nasdaq Composite fell 1.1 percent and 1.5 percent, respectively but ended up by more than 1.5 percent for the week.

European stocks closed on a firm note Friday as trading resumed after Christmas holidays.

The pan European STOXX 600 gained 0.7 percent, with banks surging after France's new premier Francois Bayrou said the delayed 2025 budget bill will target a deficit of "slightly above 5 percent in order to protect growth.

The German DAX added 0.7 percent, France's CAC 40 rallied 1 percent and the U.K.'s FTSE 100 rose 0.2 percent.

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