Sensex, Nifty Seen Higher At Open
(RTTNews) - Indian shares look set to open higher on Monday, though higher levels may attract profit booking due to muted Asian cues and declines in U.S. stock futures after data showed expectations for inflation among U.S. households are on the rise.
Benchmark indexes Sensex and Nifty both rose around half a percent to close the Diwali one-hour special Muhurat trading session on Sunday at a three-week high, led by gains in IT and metal stocks.
Asian stocks traded mixed this morning while the dollar and Treasuries held steady ahead of closely watched U.S. inflation data due Tuesday.
Gold was little changed while oil prices fell around 1 percent on demand concerns after climbing nearly 2 percent on Friday.
U.S. stocks rallied on Friday to notch a second week of gains as Treasury yields stabilized after hitting 16-year highs the previous day.
Investors shrugged off reports showing deteriorating consumer and rising inflation expectations of households.
The tech-heavy Nasdaq Composite surged 2.1 percent to log its best single-day gain since May while the Dow and the S&P 500 climbed 1.2 percent and 1.6 percent, respectively to reach their best closing levels in well over a month.
European stocks closed notably lower on Friday after hawkish comments from Fed, ECB and BoE policymakers and some disappointing regional economic data.
The pan European STOXX gave up 1 percent. The German DAX dropped 0.8 percent, France's CAC 40 lost 1 percent and the U.K.'s FTSE 100 shed 1.3 percent.
Eurozone Private Sector Maintains Expansion
Bay Street Headed For Positive Start
FTSE 100 Up Firmly In Positive Territory, Set To End Week On Strong Note
CAC 40 Roughly Flat As Investors Focus On Economic Data
DAX Down Marginally, But Stays On Course For Strong Weekly Gain
Sensex, Nifty End Modestly Higher On Firm Global Cues
European Shares Inch Higher In Cautious Trade
