Indian shares look set to open higher on Monday after data showed the country’s Index of Industrial Production (IIP), which is also called factory output, expanded by 1.8 percent in November, reversing three consecutive months of contraction.
Quarterly earnings, inflation data and expectations from the Budget 2020 may sway sentiment as the week progresses.
HCL Technologies, HDFC Bank, Reliance Industries, IndusInd Bank and Wipro are among the prominent companies that will unveil their quarterly earnings this week.
Infosys shares may rise after its audit committee found no evidence of financial impropriety or executive misconduct.
The company’s American Depository Receipts (ADR) spiked over 4 percent on Friday after the IT major posted better-than-expected financial results for the December quarter.
Asian stocks paused near 19-month highs on Monday ahead of the expected signing of the Phase 1 of the trade deal between the United States and China on Wednesday.
Gold prices fell on dollar strength while the pound drifted lower after Bank of England policymaker Gertjan Vlieghe said he will vote for a cut in interest rates later this month, barring an “imminent and significant” improvement in the growth data.
U.S. stocks pulled back from record closing highs on Friday as the latest jobs report proved to be a mixed bag. Job growth slowed more than expected in December and wage growth dropped below 3 percent for the first time since July 2018, while the unemployment rate stayed at a 50-year low of 3.5 percent, the Labor Department’s monthly report showed.
The Dow Jones Industrial Average dropped half a percent, while the S&P 500 and the tech-heavy Nasdaq Composite shed around 0.3 percent each.
European markets gave up early gains to end lower on Friday after the U.S.
announced new sanctions on Iran’s metal exports and eight senior Iranian officials.
The pan European