(RTTNews) – Indian shares are seen opening on a positive note Monday, tracking firm cues from global markets.
Q4 corporate earnings results, oil price movements, news surrounding Iran-Israel conflict and foreign investors’ trading activity may sway sentiment as the day progresses.
It’s a truncated week for markets as stock exchanges BSE and NSE will be closed on Wednesday for Maharashtra Day.
Asian markets were mostly higher in cautious trade this morning ahead of the highly anticipated Federal Reserve’s policy meeting scheduled for April 30 to May 1.
Gold edged down in Asian trading and the dollar held steady while oil prices fell about 1 percent on interest rate concerns.
U.S. stocks rose sharply on Friday on the back of blowout earnings reports from technology heavyweights Alphabet and Microsoft as well as encouraging inflation data that contained no big surprises.
Data showed that inflation, as measured by the Personal Consumption Expenditures (PCE) price index, held steady at 0.3 percent in March, in line with expectations.
The index rose 2.7 percent year-on-year, above the estimate of 2.6 percent while the core PCE index came in at 2.8 percent versus expectations for a score of 2.7 percent.
The tech-heavy Nasdaq Composite surged 2 percent, the S&P 500 climbed 1 percent and the Dow edged up 0.4 percent.
European stocks closed on a firm note Friday after a dip in the previous session.
The pan European STOXX 600 rallied 1.1 percent. The German DAX jumped 1.4 percent, France’s CAC 40 gained 0.9 percent and the U.K.’s FTSE 100 added 0.8 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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