Indian shares look set to open higher on Friday as the signing of a massive pandemic relief bill in the United States reinforced expectations of a strong economic recovery.
Underlying sentiment, however, may remain cautious amid concerns over rising oil prices and a worrying spike in the rate of Covid-19 infections across the country.
Indian markets were closed on Thursday on account of Mahashivratri. Benchmark indexes Sensex and the Nifty rose about half a percent on Wednesday to extend gains for the third straight session, while the rupee settled 2 paise higher at 72.91 against the U.S. dollar.
Asian markets climbed this morning and the dollar languished near a one-year low as bond yields dipped, helping ease inflation fears.
Gold edged higher and is eyeing its best week in seven while crude declined but stayed near $70 a barrel on demand recovery hopes.
U.S. stocks hit record highs overnight as investors cheered a $1.9 trillion spending injection from the federal government and data showing a less-than-expected rise in jobless claims last week.
The Dow Jones Industrial Average rose 0.6 percent, the S&P 500 gained 1 percent and the tech-heavy Nasdaq Composite soared 2.5 percent.
European stocks advanced on Thursday after the European Central Bank pledged to speed up its bond buying program over the next quarter based on market conditions.
The pan European Stoxx 600 gained half a percent. The German DAX and the U.K.’s FTSE 100 both edged up around 0.2 percent while France’s CAC 40 index added 0.7 percent.
Indian Shares Seen Higher As Bond Yields Dip
2021-03-12 02:56:41
