Indian Shares Set To Open On Positive Note

(RTTNews) - Indian shares look set to open higher on Monday after the government finally announced its scheme on waiving compound interest on moratorium loans and the minutes of the MPC's October meeting revealed that the RBI's stance would remain accommodative well into the next financial year.

Global cues, the next batch of corporate earnings, the expiry of futures and options contracts (F&O) for October series and the release of infrastructure output data may sway sentiment as the week progresses.

Asian markets are trading mixed this morning as investors keep a close eye on negotiations on a U.S. stimulus package and rising Covid-19 cases in Europe and other parts of the world.

Gold edged lower as the dollar inched up against a basket of currencies on safe-haven demand. Oil prices fell more than 1 percent on demand concerns.

U.S. stocks ended mixed on Friday as investors digested a slew of earnings results and kept an eye on the ongoing negotiations between lawmakers over more economic aid for the pandemic-stricken economy.

The tech-heavy Nasdaq Composite rose 0.4 percent and the S&P 500 edged up 0.3 percent, while the Dow Jones Industrial Average slid 0.1 percent after Intel posted disappointing data center revenue and American Express reported a nearly 40 percent slump in quarterly profit.

European stocks advanced on Friday in reaction to well-received results from banks and automobile makers as well as optimism about U.S. fiscal stimulus sometime in the foreseeable future.

The pan European Stoxx 600 gained 0.6 percent. The German DAX rose 0.8 percent, France's CAC 40 index rallied 1.2 percent and the U.K.'s FTSE 100 climbed 1.3 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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