Sensex, Nifty Seen Up In Cautious Trade

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(RTTNews.com) - Indian shares look set to open a tad higher on Monday, with banks likely to be in focus amid reports that the RBI may take up bad loans worth about Rs 8 lakh crore for resolution by March 2019.

The rupee is also expected to open higher as the dollar hit multi-month lows following weak economic data from the United States.

U.S. inflation remained stubbornly low in June and retail sales fell for a second straight month, separate reports showed on Friday, helping to dim prospects of more Fed rate hikes this year.

U.S. stocks rose on Friday as oil prices rose, technology and healthcare stocks advanced and several banks reported their second-quarter earnings.

The Dow rose 0.4 percent and the S&P 500 added half a percent to reach fresh record closing highs while the Nasdaq Composite advanced 0.6 percent.

European markets ended Friday's session on a mixed note amid a drop in bank shares after their U.S. peers reported weaker trading revenue.

Closer home, benchmark indexes Sensex and the Nifty jumped over 2 percent to hit fresh record highs last week as weak macro-economic data points triggered hopes of a rate cut by the Reserve Bank of India.

Earnings news flow, the pattern of monsoon rains and global cues may sway investor sentiment as the week progresses.

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This article appears in: World Markets , US Markets , Oil , Stocks

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