Sensex, Nifty Look Headed For Firm Start
(RTTNews) - Higher GIFT Nifty and positive cues from Wall Street where the major averages posted record closing highs on Friday point to a firm start for the Indian stock market on Monday.
The Dow closed up by about 0.31% on Friday, while the Nasdaq and the S&P 500 ended at record highs, gaining 0.89% and 0.29%, respectively.
Oil prices and geopolitical news are expected to impact the mood. Investors will also be reacting to a slew of corporate earnings updates.
Automobile stocks are likely to see strong activity with vehicles sales data for the month of April setting the trend.
Maruti Suzuki reported record monthly sales in April with volumes increasing to nearly 2.4 lakh units.
Kotak Mahindra will be in focus after the lender reported a 13.4% surge in fourth quarter net profit, beating expectations.
Indian shares fell notably on Thursday as a sharp rise in oil prices to four-year highs fueled inflation concerns.
Sentiment was also shaped by the U.S. Federal Reserve's status-quo decision on interest rates for the third straight meeting.
The benchmark BSE Sensex ended down by 582.86 points or 0.75% at 76,913.50, while the broader Nifty50 index of the National Stock Exchange settled with a loss of 180.10 points or 0.74% at 23,997.55.
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