Sensex, Nifty Likely To Have A Cautious Opening

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By Administrator_ India

Capital Sands

The Indian stock markets are likely to open mildly in the green, extending the gains witnessed in Friday’s session. Trends on SGX Nifty indicate a positive opening for the Nifty in India, with a 25-point gain. At 7:30 am, the Nifty futures were trading at 15,896, higher by 25 points or 0.15 percent, on the Singapore Stock Exchange.

Asian shares got the week off to a cautious start on Monday as a spike in coronavirus cases across Asia over the weekend hurt investor sentiment while oil hovered around 2-1/2 year highs.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last a shade weaker at 703.17, still near a two-week high of 705.35 made on June 16. Australian shares slipped 0.3 percent, while South Korea’s KOSPI index was slightly higher. Japan’s Nikkei was 0.1 percent weaker.

The S&P 500 ended the week at a record high on Friday, lifted by Nike and several banks, while weaker-than-expected inflation data eased worries about a sudden tapering in stimulus by the Federal Reserve.

The Dow Jones rose 0.69 percent to end at 34,433.84 points, while the S&P 500 gained 0.33 percent to 4,280.69. The Nasdaq Composite dropped 0.06 percent to 14,360.39.

On the earnings front, NALCO, Aarvee Denims, Bartronics India and Eros International Media will declare their March quarter numbers during the day.

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