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Sensex, Nifty Poised For Flat Start In Holiday-shortened Week
(RTTNews) - Indian shares look set to open on a flat note Monday amid lack of cues from global markets.
Q4 earnings of IT companies, oil price movements, FII flows and the latest readings on factory output and inflation may sway sentiment in the holiday-shortened week, with stock exchanges BSE and NSE likely to remain closed on Friday on the occasion of Dr Baba Saheb Ambedkar Jayanti.
Benchmark indexes Sensex and Nifty jumped around 1.4 percent each last week as concerns about an imminent banking crisis eased and a slew of weak U.S. data bolstered bets the Federal Reserve may soon pause its rate-tightening cycle.
A surprising pause in interest rate hikes by the RBI also boosted investor sentiment.
U.S. and European markets were closed on Friday on the eve of Good Friday. Asian markets were mostly higher in thin holiday trade.
The U.S. jobs report released on Friday showed strong hiring, slower wage growth and an historically low unemployment rate, raising speculation the Fed will hike rates by another 25 bps at its May meeting.
Elsewhere, European Central Bank governing council member Klaas Knot on Friday said he was unclear about the size of the upcoming rate hike in May.
Gold dipped on a firmer dollar while oil prices nudged higher on the prospect of tighter supplies.
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