Plus   Neg

Sensex, Nifty Seen Opening On Positive Note

Indian shares may open slightly higher on Monday as investors await cues from quarterly earnings and industrial output data due this week. Trading may turn volatile later today as traders may book some profits at higher levels ahead of a holiday on Tuesday for Dussehra.

IT bigwigs TCS and Infosys will report their Q2 earnings results on October 10 and 11, respectively while industrial production data for August will be released on October 11.

Asian markets are trading mixed this morning amid holidays in Shanghai and Hong Kong. Caution prevailed as investors remained focused on the next round of U.S.-China trade negotiations, Middle East tensions and large demonstrations continuing in Hong Kong in response to the new mask ban.

On Wall Street, the major three averages surged around 1.4 percent on Friday as moderate jobs growth in September offered some relief for markets following a string of weak economic reports earlier in the week.

The closely watched jobs report showed weaker than expected job growth in September, reinforcing expectations about further interest rate cuts.

The unemployment rate unexpectedly dropped to a nearly 50-year low, offsetting concerns about a potential recession.

Investors also cheered Fed Chairman Jerome Powell's comments that the U.S. economy is "in a good place," and that it is the central bank's job to "keep it there as long as possible."

European stocks ended broadly higher on Friday after the release of U.S. jobs data. The pan European Stoxx 600 advanced 0.7 percent.

The German DAX rose 0.7 percent, while France's CAC 40 index added 0.9 percent and the U.K.'s FTSE 100 climbed 1.1 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT