Indian shares look set to open a tad higher on Tuesday after Finance Minister Nirmala Sitharaman told a news agency that the government was open to accelerating the economic recovery through more stimulus, if needed.
Earnings optimism may prevail after Larsen & Toubro Infotech reported higher-than-expected earnings for the September quarter.
ACC, HUL, ICICI Prudential Life Insurance, L&T Technology Services, Nestle and Tata Steel are among the prominent companies scheduled to unveil their quarterly earnings results later today.
Telecom stocks could be in focus after reports that the government has written to telcos asking them to convey by October 29 if they would be opting for four-year dues moratorium.
Benchmark indexes Sensex and the Nifty jumped around 0.8 percent each on Monday to reach record closing highs while the rupee settled 9 paise lower at 75.35 against the greenback.
Asian markets traded higher this morning, U.S. bond yields declined and the dollar softened, as weak U.S. data tempered expectations about any near-term interest rate increases. Oil prices fell, with Brent declining for a second straight session on concerns about demand.
U.S. stocks ended mixed overnight as weak China GDP and U.S. factory output numbers offset investor enthusiasm over the earnings season.
The Dow slipped 0.1 percent while the tech-heavy Nasdaq Composite rose 0.8 percent and the S&P 500 added 0.3 percent to extend gains for the fourth straight session.
European stocks fell on Monday amid worries about rising inflation and slowing global growth.
The pan European Stoxx 600 gave up half a percent. The German DAX shed 0.7 percent, France’s CAC 40 index declined 0.8 percent and the U.K.’s FTSE 100 dropped 0.4 percent.
Market Analysis
Sensex, Nifty Poised For Positive Start
2021-10-19 02:53:21
