Indian markets are poised to open higher on Monday, tracking firm cues from fellow Asian peers as investors sentiment were boosted by the strong US job data and withdrawal of financial regulations by the President Donald Trump. SGX Nifty is trading 51.50 points higher.
Indian shares closed flat on Friday on caution ahead of the central bank’s policy meeting next week, but indexes ended a second straight week with gains after the federal budget, aimed at accelerating economic growth, boosted sentiment. The S&P BSE Sensex and CNX Nifty rose 0.05%-0.08% each.
Asian shares crept ahead on Monday as Wall Street gathered momentum into a busy week of earnings with more than 100 major companies due to report, while the dollar was again hobbled by a lack of progress on U.S. fiscal stimulus.
US stocks closed near session highs, with the Dow industrials reclaiming a close above 20,000 and the Nasdaq reached a record.
European shares slipped on Thursday, weighed down by disappointing earning updates from Danish drugmaker Novo Nordisk and German lender Deutsche Bank, although Reckitt Benckiser was boosted by news of talks to buy US rival Johnson Nutrition.
Major Headlines of the day:
• Lupin gets USFDA approval for Triamcinolone Acetonide cream.
• Jindal Steel said in talks to sell power plant for over $1.5 bn.
• Grasim Increases FPI Limit To 49% From 30%
Trend in FII flows: The FIIs were net buyers of Rs 353.84 the cash segment on Friday while the DIIs were net sellers of Rs -42.53 as per the provisional figures.
UPCOMING RESULTS: DR.REDDY’S LAB, CENTRAL BANK, RUSHIL DÉCOR LIMITED, PUDUMLEE PULP AND PAPER,J.K CEMENT,DIVIS LABS,DWAIRKESH SUGAR,VCCL.
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