Sensex, Nifty Set To Follow Global Peers Higher
(RTTNews) - Indian shares look set to open sharply higher on Monday, tracking positive global cues.
Stock-specific action could be seen as more companies unveil their financial results. Bharti Airtel, Larsen & Toubro and Tata Steel are among the prominent companies that will declare their September quarter results today.
Asian markets traded broadly higher this morning despite Chinese factory and services activity data pointing to further loss of momentum in the world's second-largest economy.
The dollar climbed and the yield on the 10-year U.S. Treasuries hovered at around 4 percent, as investors awaited this week's Federal Reserve meeting for clues on whether a pivot on the pace of rate hikes is on the table.
Oil prices slipped on concerns that increased COVID-19 curbs in China will dent fuel demand.
U.S. stocks rose sharply on Friday as fresh data pointing to slowing inflation and solid readings on personal income and spending outweighed weak earnings reports from mega-cap technology companies.
The Dow climbed 2.6 percent to hit a two-month closing high and book its longest winning streak since November 2021, while the tech-heavy Nasdaq Composite surged 2.9 percent and the S&P 500 added 2.5 percent.
European stocks reversed course to end broadly higher on Friday as investors reacted to a slew of earnings updates and economic data.
The pan European Stoxx 600 edged up 0.1 percent. The German DAX inched up 0.2 percent and France's CAC 40 index rose half a percent while the U.K.'s FTSE 100 dropped 0.4 percent.
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