Sensex, Nifty Seen Opening Flat To Higher
(RTTNews.com) - Indian shares look set to open higher on Monday after the GST Council made some important modifications to the GST regime to help improve lower transactions costs and improve compliance.
The upside, however, may remain limited after data showed India's industrial output growth hit a 17-month low of 0.5 percent in November on account of contraction in the manufacturing sector.
The release of inflation and trade balance figures, oil price movements and earnings announcements may sway investor sentiment as the week progresses.
Top companies such as Hindustan Unilever, Mindtree, Reliance Industries, SBI Life Insurance Company and Wipro are scheduled to unveil their earnings for the December quarter this week.
Meanwhile, Infosys posted a mixed set of earnings results after market hours on Friday.
Benchmark indexes Sensex and the Nifty rose 0.9 percent and 0.6 percent, respectively last week while the rupee weakened by 77 paise to close at 70.49 against the dollar.
Asian stocks are trading mixed this morning as the partial U.S government shutdown entered its fourth week. Oil headed toward $52 a barrel while the British pound gained ground ahead of Tuesday's crucial vote on Brexit.
U.S. stocks edged lower on Friday after rallying for the past five sessions. Underlying sentiment turned cautious as oil prices dropped and investors awaited earnings from big Wall Street banks. The Dow and the S&P 500 slid marginally while the tech-heavy Nasdaq Composite eased 0.2 percent.
European markets also ended mostly lower on Friday, reflecting concerns about the U.S. government shutdown, a Brexit impasse and the lack of any clear resolution to the U.S-China trade talks.
The pan-European Stoxx Europe 600 Index inched up 0.1 percent. The German DAX shed 0.3 percent, France's CAC 40 index dropped half a percent and the U.K.'sFTSE 100 declined 0.4 percent.
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