(RTTNews) – Indian shares are likely to open higher on Monday, though underlying sentiment may remain cautious amidst the background of rising Covid-19 positive patients, especially in states like Maharashtra and Kerala.
The post Budget rally fizzled out last week amid worries of increasing U.S. bond yields and inflation.
Third-quarter GDP data will be out this week, with economists expecting the economy to return to growth in Q3 after two quarters of contraction.
Asian markets remain broadly higher this morning despite lingering concerns over stretched valuations. Gold prices rose on dollar weakness and benchmark U.S. Treasury yields hovered near one-year peak, while oil gained ground on concerns about supply.
U.S. stocks ended narrowly mixed on Friday as treasury yields continued to rise and investors rotated out of technology-related companies.
Meanwhile, new Treasury Secretary Janet Yellen urged lawmakers to approve President Joe Biden’s $1.9 trillion relief package, saying the proposal could help the U.S. get back to full employment within a year.
European markets advanced on Friday as investors reacted to quarterly earnings reports and the latest batch of economic data from the euro area and the U.S.
The pan European Stoxx 600 gained half a percent. The German DAX and France’s CAC 40 index both rose about 0.8 percent, while the U.K.’s FTSE 100 inched up 0.1 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.