Indian shares are seen opening largely unchanged on Monday, tracking mixed Asian cues. Investors will closely watch consumer inflation data due out later today and wholesale inflation numbers slated for release tomorrow to see if the RBI has room for further policy easing as the UPA government gears up for 2014 Lok Sabha polls.
Benchmark indexes Sensex and the Nifty rose slightly to their highest level in 28 months during a special trading session on Saturday, driven by renewed FII inflows. Cigarette major ITC hit a record high, while drug makers like Sun Pharma, Dr Reddy's and Lupin rose 2-4 percent. Oil marketing stocks were in focus after companies hiked diesel prices by Rs 1.02 per litre, the fourth hike in prices since January.
Asian Markets
Asian stocks are turning in a mixed performance, with a weaker yen lifting Japanese shares to a fresh five-year high, while the markets in Australia, China, Hong Kong, Indonesia, Singapore, South Korea and Taiwan are subdued. The U.S. dollar is rising against the euro after the Wall Street Journal reported over the weekend that Fed officials have mapped out a strategy to wind down the $85-billion dollar bond-buying program, although it hasn't been decided when to start. The Japanese yen is trading below 102 against the dollar after the G7 meeting avoided directly criticizing Japan for the yen's rapid fall through 100 per dollar.
Investors, meanwhile, await a slew of Chinese data, including industrial production, fixed asset investment and retail sales due out later in the day for direction.
Industrial output is expected to rise 9.4 percent in April from a year earlier after adding 8.9 percent in March. Fixed asset investment is forecast to rise by 21.0 percent following the 20.9 percent annual increase in the previous month, while retail sales are tipped to grow 12.8 percent, up from 12.6 percent a month earlier.
U.S. And European Markets
U.S. stocks posted modest gains to close at fresh record highs on Friday amid optimism the U.S. economic recovery is gaining traction. The Dow edged up 0.2 percent, the tech-heavy Nasdaq advanced 0.8 percent and the S&P 500 gained 0.4 percent.
European stocks also rose in thin trading on Friday, with the German DAX hitting another record high and the U.K.'s FTSE 100 closing above 6600 for the first time since October 2007, after companies like ArcelorMittal and BT Group Plc. reported better-than-expected results and data showed German exports recovered as expected in March, boosting hopes of economic revival by the end of the first quarter. The benchmark indexes in Germany, the U.K. and France rose between 0.2 percent and 0.6 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.