Indian shares look set to open higher on Tuesday after official data released post-market hours showed retail inflation based on consumer price index (CPI) marginally eased to 6.26 percent in June from 6.30 percent in May, which was the highest in six months.
Also, the index of industrial production (IIP) grew as much as 29.3 percent year-on-year in May, driven mainly by a favorable base.
Benchmark indexes Sensex and the Nifty gave up early gains to end on a flat note Monday, while the rupee settled 6 paise higher at 74.58 (provisional) against the greenback.
Asian markets rose this morning as investors awaited Chinese trade data due out later in the day for clues to the country’s recovery from the pandemic.
A slew of central bank decisions, Fed Chair Jerome Powell’s testimony, U.S. inflation data and second-quarter earnings also remain on investors’ radar.
Gold held steady on a weaker dollar after a sale of $58 billion of three-year notes fetched yields slightly higher than before the auction.
Oil edged up slightly in Asian trade after dipping for the first time in three days.
Overnight, the major U.S. averages rose between 0.2 percent and 0.4 percent to reach new record closing highs, with Tesla and banking stocks gaining ground ahead of the start of earnings season.
European stocks also climbed to a record high on Monday as bets that top U.S. banks will report strong second-quarter earnings helped offset worries about the spread of new coronavirus variants.
The pan European Stoxx 600 advanced 0.7 percent. The German DAX gained 0.7 percent, France’s CAC 40 index rose half a percent and the U.K.’s FTSE 100 inched up 0.1 percent.
Sensex, Nifty Set To Rise On Solid Data, Firm Global Cues
2021-07-13 02:58:15
