Indian shares look set to open higher on Tuesday amid bets that the second COVID-19 wave in the country may have peaked and India’s long-term growth story remains intact.
Tata Motors’ shares could be in focus amid expectations the company will post double digit growth in Q4 consolidated revenues and profit on the back of improvement in sales of Jaguar Land Rover vehicles in major markets like China.
Aarti Industries, Canara Bank and Minda Corp are among the other companies that will unveil their quarterly results later today.
Benchmark indexes Sensex and the Nifty soared around 1.7 percent each on Monday while the rupee rose for the second straight session and ended up by 7 paise at a one-and-a-half month high of 73.22 against the U.S. dollar.
Asian markets are trading mostly higher this morning, with Taiwan’s benchmark index climbing nearly 4 percent, after its biggest rout in more than a year. Gold held near a 3-1/2-month high on dollar weakness while Treasuries held steady.
Brent oil edged toward $70 a barrel, as optimism about the demand outlook in key regions such as the United States, China and Europe outweighed concerns around weaker consumption in parts of Asia.
U.S. stocks ended off their day’s lows overnight as inflation worries weighed and investors reacted to mixed readings on the manufacturing and housing sectors.
The Dow ended 0.2 percent lower, the tech-heavy Nasdaq Composite slipped 0.4 percent and the S&P 500 shed 0.3 percent.
European stocks ended slightly lower on Monday, with a surge in coronavirus cases in Asia and mixed economic data from China weighing on sentiment.
The pan European Stoxx 600 ended flat with a negative bias. The German DAX slid 0.1 percent, France’s CAC 40 index eased 0.3 percent and the U.K.’s FTSE 100 gave up 0.2 percent.
Sensex, Nifty Seen Up Despite Mixed Global Cues
2021-05-18 02:55:30
