Sensex, Nifty Seen Higher At Open

Indian shares may open a tad higher on Monday, tracking mixed global cues and amid optimism about economic recovery, with the International Monetary Fund (IMF) calling the Centre's response to the Covid-19 crisis 'Swift and substantial'.

Encouraging earnings updates from the likes of Avenue Supermarts, HCL Technologies and HDFC Bank may also help underpin investor sentiment.

UltraTech Cement, ACC, Hindustan Unilever, Asian Paints, Hindustan Zinc, IDBI, Bank of Maharashtra, South Indian Bank, Federal Bank and Reliance Industries are among the prominent companies that will unveil their earnings results this week.

Asian stocks were subdued this morning as Treasury yields extended a climb on worries about surging energy prices and inflation.

Fears of a global slowdown were rekindled after China's third-quarter GDP grew a disappointing 4.9 percent and industrial output rose less than expected in September.

However, People's Bank of China Governor Yi Gang said authorities can contain risks posed to the Chinese economy and financial system from the struggles of China Evergrande Group.

The dollar made a wobbly start to the week and gold ticked higher while Bitcoin rallied back above $62,000. Oil prices hit their highest in years on expectations of rising demand on the back of easing Covid-19 restrictions around the world.

U.S. stocks rose on Friday as better-than-estimated earnings and economic data overshadowed concerns surrounding inflation and constrained supply chains.

The Dow climbed 1.1 percent and the S&P 500 edged up 0.8 percent to reach new one-month closing highs while the tech-heavy Nasdaq Composite gained half a percent.

European stocks rose on Friday to log their best weekly performance in seven months amid optimism around the earnings season.

The pan European Stoxx 600 added 0.7 percent. The German DAX rose 0.8 percent, France's CAC 40 index advanced 0.6 percent and the U.K.'s FTSE 100 inched up 0.4 percent.

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