Indian Markets Closed For Bakri Id

(RTTNews) - Indian stock markets remain closed today on account of Bakri Id.

In the absence of any major domestic triggers, global cues, trading activity of foreign investors, oil price movements and monsoon updates from the IMD may sway sentiment in the truncated week.

The 30-share BSE Sensex rose 299.41 points, or 0.39 percent last week, while the broader NSE Nifty index gained 175.45 points, or 0.75 percent.

Asian markets were broadly lower this morning as political uncertainty in Europe soured investors' risk appetite.

Traders also reacted to a slew of mixed Chinese data and looked ahead to key central bank meetings this week for directional cues.

Central banks in Australia, Norway and the U.K. are all expected to hold rates steady, while there are increased bets for another rate cut from the Swiss National Bank (SNB).

Japan's Nikkei index fell nearly 2 percent as investors waited to hear details of the Bank of Japan's next tightening steps.

The dollar was firm in Asian trading, while oil and gold were seeing modest losses. U.S. stocks ended narrowly mixed on Friday but posted strong weekly gains on growing hopes for the Federal Reserve to cut interest rates in September.

In economic releases, U.S. import prices fell for the first time in five months in May and year-ahead inflation expectations were unchanged at 3.3 percent in June while consumer sentiment dropped to a seven-month low in June, separate reports showed.

The tech-heavy Nasdaq Composite inched up 0.1 percent to reach a record closing high while the S&P 500 finished marginally lower and the Dow eased 0.2 percent.

European stocks tumbled on Friday, with political tensions in Europe and concerns over potential retaliation from China on tariffs weighing on sentiment.

The pan European STOXX 600 gave up 1 percent. The German DAX lost 1.4 percent, France's CAC 40 plunged 2.7 percent and the U.K.'s FTSE 100 dipped 0.2 percent.