Indian shares look set to open a tad higher on Monday after data showed the country witnessed a steep decline in the number of fresh Covid-19 cases with 281,860 infections. This is the first time, India has recorded new cases below 300,000 since April 21.
Global cues, WPI data and the latest batch of earnings results may sway sentiment as the week progresses.
Bharti Airtel, Hindalco, Indian Oil Corporation, JSW Steel, Shree Cement, State Bank of India and Tata Motors are among the prominent companies that will unveil their quarterly earnings results this week.
Asian markets are trading mixed this morning as Chinese retail sales and industrial output figures proved to be a mixed bag.
Taiwan’s benchmark index fell more than 2 percent as the country reported 206 new local cases of Covid-19 on Sunday, breaking the previous day’s record high of 180.
Gold prices rose to a three-month high amid a weaker dollar and a dip in Treasury yields, while oil prices were seeing modest gains in Asian trade.
U.S. stocks closed higher on Friday as commodity prices dropped and Treasury yields continued to ease, helping investors shrug off weaker-than-expected industrial production, consumer sentiment and retail sales figures.
The Dow climbed 1.1 percent, the tech-heavy Nasdaq Composite jumped 2.3 percent and the S&P 500 rallied 1.5 percent.
European markets advanced on Friday after dovish comments from Federal Reserve members.
The pan European Stoxx 600 climbed 1.2 percent. The German DAX rose 1.4 percent, France’s CAC 40 index gained 1.5 percent and the U.K.’s FTSE 100 added 1.2 percent.
Market Analysis
Sensex, Nifty Seen Tad Higher At Open
2021-05-17 02:54:28
