Indian shares may open higher on Monday, tracking positive global cues as investors look forward to improvement in the U.S.-China trade relations ahead of this month’s G-20 summit.
Benchmark indexes Sense and the Nifty rose around 1 percent last week and the rupee gained 0.8 percent to close at 71.93 per dollar, as a sharp fall in oil prices helped ease investor concerns surrounding inflation and the twin deficits.
Oil price movements, the direction of rupee and foreign fund flows may influence trading sentiment as the quarterly earnings season draws to a close.
There will not be any significant impact of the state elections on the markets as the results of all the assembly election will be declared only on December 11.
The much-awaited meeting of the Reserve Bank of India board will be held today, with the central bank and the government expected to reach a common ground on certain key issues to help raise liquidity in the system.
Meanwhile, it’s going to be a truncated week with markets likely to remain closed on November 23 on account of Gurunanak Jayanti.
Asian markets are broadly lower this morning after U.S. President Donald Trump said the United States might not have to impose further tariffs on Chinese goods.
Trump said China has provided a “large list” of trade items the communist country is willing to compromise on but argued any trade deal has to be “reciprocal.”
However, White House officials subsequently told CNBC people should not read too much into the president’s claims.
Brent crude futures rose in Asian trade after falling nearly 5 percent to $66.76 a barrel last week.
U.S. stocks ended mixed on Friday after President Donald Trump said that China was ready to make a deal to diffuse trade tensions.
The Dow rose half a percent