Indian shares are likely to open lower on Monday as investors keep a close eye on the Covid-19 situation in the country and await quarterly earnings reports for direction.
Breaking all records, India has recorded a massive surge of 169,899 Covid-19 cases and 904 deaths in the last 24 hours.
Underlying sentiment may remain cautious ahead of TCS' quarterly earnings and CPI and factory output readings due out later in the day.
Asian markets remain broadly lower this morning as U.S. Treasury yields edged higher after the release of stronger-than-expected producer inflation data.
Fed Chair Jerome Powell told CBS in an interview that the U.S. economy is poised for an extended period of strong growth and hiring even though the coronavirus still poses some risk.
The dollar held steady in Asian trade and gold prices slipped while oil was little changed near $59 a barrel.
U.S. stocks rose on Friday as the Fed's dovish tone, higher-than-expected inflation data and an uptick in Treasury yields added to investor optimism about economic recovery.
Meanwhile, the latest data from the Centers for Disease Control showed nearly 20 percent of Americans are fully vaccinated against the coronavirus.
The Dow climbed 0.9 percent and the S&P 500 gained 0.8 percent to reach record closing highs while the tech-heavy Nasdaq Composite rose half a percent to reach its best closing level in almost two months.
European stocks ended mostly higher on Friday despite some disappointing economic data from the euro area and signs of rising inflation in China.
The pan European Stoxx 600 closed flat with a positive bias. The German DAX edged up 0.2 percent and France's CAC 40 index inched up 0.1 percent while the U.K.'s FTSE 100 dropped 0.4 percent.
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