Sensex, Nifty Set For Positive Open
(RTTNews) – Indian shares look set to open higher on Monday as automakers reported a healthy growth in wholesale numbers in July and goods and services tax (GST) collections came in at an impressive Rs 1.16 lakh crore in the month to hit a three-month high.
The release of macroeconomic data, quarterly earnings and the Reserve Bank of India’s interest rate decision may sway sentiment as the week progresses.
HDFC, Punjab National Bank and RBL Bank are among the prominent companies due to unveil their quarterly earnings results later today.
Asian markets rose broadly this morning as some of the concerns over COVID-19 reopening disruption and China’s regulatory crackdown eased.
Japan’s factory output growth picked up in July due to a stronger expansion of output and new orders, while China’s factory activity expanded at a slower pace in the month, separate reports showed.
U.S. stocks fell on Friday, with concerns over China’s clampdown on technology businesses, disappointing results from Amazon and renewed worries about a rise of cases of the Delta variant coronavirus weighing on markets.
The Dow dropped 0.4 percent, the tech-heavy Nasdaq Composite shed 0.7 percent and the S&P 500 eased half a percent.
European stocks also ended lower on Friday as concerns about China’s policy risks overshadowed data showing a fairly strong rebound in euro area economic growth in the second quarter.
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