Sensex, Nifty Seen Flat To Higher At Open
(RTTNews) - Indian shares look set to open on a positive note Monday as an uptick in the U.S. unemployment rate and moderation of payroll and wage growth meant that the Fed is very likely to hold their policy rate steady at the decision later this month.
In the absence of any major event, market direction this week may be influenced by oil price movements, foreign fund inflows and the release of S&P global services purchasing manager's index figures.
Asian markets were mostly higher this morning, gold firmed up and the dollar held steady while oil extended last week's rally on expectations of ongoing crude supply cuts from major producers.
U.S. stocks ended mostly higher on Friday and notched a weekly gain after data showed the labor market cooling and wage growth slowing, supporting optimism the Federal Reserve is nearing the end of its tightening cycle.
Separate data showed U.S. manufacturing contracted for a 10th straight month in August.
The Dow edged up 0.3 percent and the S&P 500 inched up 0.2 percent while the tech-heavy Nasdaq Composite finished marginally lower.
European stocks ended mixed on Friday, giving up early gains on news of more stimulus from Beijing and data showing that the downturn in Eurozone manufacturing eased last month.
The pan-European STOXX 600 closed marginally lower but notched its best weekly gain of 1.5 percent since mid-July.
The German DAX shed 0.7 percent and France's CAC 40 eased 0.3 percent while the U.K.'s FTSE 100 rose 0.3 percent.
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