Sensex, Nifty To Open Lower As EC Announces Election Dates

Indian shares may open slightly lower on Monday as investors brace for political uncertainty owing to upcoming general elections.

The Model Code of Conduct (MCC) has come into force after the Election Commission of India said that the country would vote in seven phases from April 11 to May 19. The code bars the government from announcing any policy decisions.

Global cues, oil price movements and inflation data may influence trading sentiment as the week progresses. Retail inflation data for February will be released on Tuesday, whereas whole inflation figures will be out on Thursday.

The RBI may cut rates in its next policy meet if the latest numbers come in line with the benign inflation trend. Industrial output data for January is also due this week.

Benchmark indexes Sensex and the Nifty surged 1.7 percent and 1.6 percent, respectively last week on the back of sustained foreign portfolio investment inflows in view of a firmer rupee and softening crude oil prices.

Asian stocks are trading lower this morning as growth worries intensified and investors looked ahead to a crucial Brexit vote in the U.K. parliament for directional cues.

After new bank loans in China fell more than expected in February, China’s central bank on Sunday pledged more policy support.

Gold inched lower as the dollar edged up in international markets. Oil prices rose in early Asian trade after Saudi oil minister Khalid al-Falih said it would be too early to change OPEC+ output policy at the group’s meeting in April.

U.S. stocks fell for the fifth day running on Friday as disappointing exports data from China as well as weak U.S. jobs figures added to investor concerns over cooling global growth.

The world’s largest economy added just 20,000 jobs in February, compared with expectations of nonfarm payrolls rising by

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