Sensex, Nifty Seen Higher At Open
(RTTNews) - Indian shares look set to open on a positive note Monday despite mixed cues from global markets.
With the quarterly earnings season coming to a close, FII trading activity, oil price movements and ongoing developments in the Middle East may influence trading sentiment as the week progresses.
Asian markets traded mixed this morning ahead of central bank meetings in Indonesia and South Korea, the release of minutes from the latest Federal Reserve meeting and the annual Jackson Hole meeting in the U.S. due this week.
The dollar struggled for direction in Asian trading and gold traded a tad below $2,500 per ounce, while oil held steady amid U.S.-led efforts to secure a cease-fire in the 10-month-old Middle East war and the recent escalation of the Russia-Ukraine war.
U.S. stocks fluctuated before finishing modestly higher on Friday, booking their best weekly advance since November as recession worries eased and hopes grew for a Federal Reserve rate cut in September.
Separate data revealed U.S. residential construction slowed in July 2024 with permits and starts declining.
The three major averages all rose around 0.2 percent as a survey showed consumer sentiment rose in August and inflation expectations remained unchanged over the next year and beyond.
European stocks rose for a fourth straight session on Friday and posted solid gains for the week on optimism over potential U.S. rate cuts.
The pan European STOXX 600 gained 0.3 percent to hit a two-week high.
The German DAX climbed 0.8 percent and France's CAC 40 added 0.4 percent while the U.K.'s FTSE 100 dipped 0.4 percent as strong retail sales and GDP data pushed the pound to its peak since late July.
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