Trends on SGX Nifty indicate a positive opening for Indian markets on Monday.
Underlying sentiment may remain underpinned after the Drugs Controller General of India (DCGI) granted restricted emergency use authorization for the Serum Institute of India (SII)’s ‘Covishield’ and Bharat Biotech’s ‘Covaxin’ vaccines in fight against Covid-19.
Renewed FII inflows, positive GST collection data for December, signs of an uptick in automobile sales and expectations of healthy quarterly results may also offer some support as the week progresses.
Asian markets are fluctuating this morning and the yen strengthened after reports suggested that the Japanese government was considering a state of emergency for capital Tokyo and three surrounding prefectures.
Activity in China’s factory sector rose in December while Japan’s factory activity stabilized for the first time in two years in the month, separate reports showed.
Investors are cautiously watching runoff elections in Georgia for two U.S. Senate seats on Tuesday that will determine control of the upper chamber of Congress.
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