Sensex, Nifty Seen Opening Up On Global Cues

Indian shares are seen opening a tad higher on Monday, tracking firm cues from global markets.

A host of factors including the latest batch of corporate earnings, auto sales figures, fiscal deficit and infrastructure output numbers along with the presentation of the Union Budget in Lok Sabha on February 1 may sway markets as the week progresses.

Globally, the Fed decision on interest rates, U.S. unemployment rate and manufacturing payroll figures, European GDP data, China PMI data and the BoE’s rate decision will be watched closely.

Asian markets traded higher this morning while oil prices rose more than 1 percent to their highest since November on heightened tensions in the Middle East.

U.S. President Joe Biden pledged to retaliate after news of three U.S. troops being killed by a drone attack in Jordan.

U.S. stocks ended narrowly mixed on Friday after the release of disappointing first-quarter outlook from semiconductor giant Intel and the PCE index for December offering more evidence that inflation continues to moderate.

The Dow inched up 0.2 percent to a new record closing high while the S&P 500 finished marginally lower, and the tech-heavy Nasdaq Composite dropped 0.4 percent.

European stocks closed at a two-year high on Friday, thanks to some upbeat quarterly earnings and signs of cooling inflation in the euro area.

The pan European STOXX 600 climbed 1.1 percent. The German DAX edged up 0.3 percent, France’s CAC 40 jumped 2.3 percent and the U.K.’s FTSE 100 surged 1.4 percent.

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