Indian shares are seen opening on a positive note Tuesday as daily cases of Covid fell below 2.5 lakh for the first time in five days and a RBI report noted that there are indications that supply chain disruptions and shipping costs are slowly easing.
The Indian economy has seen upticks in several incoming high frequency indicators along with strong consumer and business confidence, RBI said in its monthly bulletin.
As per PwC Annual Global CEO Survey, as many as 99 percent of top CEOs in India believe India’s economic growth will improve over the next 12 months.
On the earnings front, Bajaj Finance, ICICI Prudential Life, L&T Tech, ICICI Securities and Tata Elexi are among the prominent companies that will unveil their quarterly earnings results today.
Benchmark indexes fluctuated before ending slightly higher on Monday while the rupee slipped by 9 paise to close at 74.24 against the greenback.
Asian markets were broadly higher this morning, as traders weigh the outlook for economic recovery and monetary policy against the threat posed by a fresh coronavirus wave in the United States.
Treasury yields rose and gold steadied after its best week in two months while Brent oil hit its highest level in more than seven years on supply concerns.
The dollar slipped against the yen as investors await the outcome of a central bank policy meeting in Japan.
U.S. markets were closed on Monday in observance of the Martin Luther King Jr. Day holiday.
European stocks closed Monday’s session on a firm note, with deal talks and the Chinese central bank’s decision to cut interest rate helping underpin sentiment.
The pan European Stoxx 600 climbed 0.7 percent. The German DAX rose 0.3 percent, France’s CAC 40 index added 0.8 percent and the U.K.’s FTSE 100 jumped 0.9 percent.
Market Analysis
Sensex, Nifty Set For Firm Start
2022-01-18 03:03:16
