Sensex, Nifty Seen Up On Asian Cues

(RTTNews) - Indian shares are seen opening higher on Monday, with market sentiment likely to be swayed by updates related to Covid-19, global cues, rupee movement and the upcoming hearing in Supreme court on the AGR dues.

There could be higher level of volatility this week due to scheduled F&O expiry of August month contracts.

Asian markets are moving higher this morning after the U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as a treatment option.

The British pound nursed losses as another round of Brexit talks with the EU ended without progress. Gold held steady while oil nudged higher after U.S. energy firms shut 58 percent of Gulf of Mexico oil output due to twin storm threat.

U.S. stocks rose on Friday after separate reports showed U.S. home sales rose a record-breaking 24.7 percent in July and U.S. business activity expanded at the fastest pace in over a year in August.

While the Dow gained 0.7 percent, the tech-heavy Nasdaq Composite and the S&P 500 inched up 0.4 percent and 0.3 percent, respectively to reach fresh record closing highs.

European markets ticked lower on Friday as downbeat economic data out of the euro zone pointed to a stalling of the region's economic recovery from the deepest economic downturn on record.

The pan-European Stoxx Europe 600 gave up 0.2 percent. The German DAX dropped half a percent, France's CAC 40 index shed 0.3 percent and the U.K.'s FTSE 100 eased 0.2 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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