Indian shares look set to open higher on Monday as investors await the outcome of elections in Gujarat and Himachal Pradesh. Early trends suggest that the BJP is leading in both states.
Besides the verdict of state elections, sentiment this week may be influenced by global factors like oil price movements and developments in Washington on the tax reform bill.
Benchmark indexes Sensex and Nifty ended with small gains last week as the Gujarat exit poll results helped investors shrug off alarming data on inflation and industrial production.
Asian shares are broadly higher this morning, with markets in Australia, Hong Kong and Japan leading regional gains, after U.S. Republicans unveiled their final tax plan on Friday.
Gold prices inched down and the dollar held modest gains against the euro and yen, while oil prices remain little changed amid lack of triggers.
U.S. stocks rose to close at fresh record highs on Friday as traders remained optimistic about Republican lawmakers passing tax reform legislation.
The Dow rose 0.6 percent, the Nasdaq Composite climbed 1.2 percent and the S&P 500 advanced 0.9 percent.
European markets ended Friday's session on a mixed note, with concerns over U.S. tax reform and disappointing trading updates from the likes of H&M and Ferragamo weighing on markets.
The pan-European Stoxx Europe 600 index eased 0.2 percent. France' s CAC 40 index also slid 0.2 percent while the German DAX rose 0.3 percent and the U.K.'s FTSE 100 gained 0.6 percent.
by RTT Staff Writer
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