“Market live update:” Sensex, Nifty likely to open lower
Asian shares edged higher on Monday, looking to extend their recent rally to the third week should U.S. jobs figures show the expected revival in hiring in May
The stock markets are likely to open in the red, post the nearly 1% gains witnessed on Friday, going by early indications from SGX Nifty futures trading. Early trends on SGX futures indicate a negative opening for the index in India. At 7:30 am, the Nifty futures were trading at 15,444, lower by 44 points or 0.37% on the Singapore Stock Exchange.
Asian shares edged higher on Monday, looking to extend their recent rally to the third week should U.S. jobs figures show the expected revival in hiring in May and keep the global recovery on track.
MSCI’s broadest index of Asia-Pacific shares outside Japan was a fraction firmer, having rallied 2.2% last week. Japan’s Nikkei was flat, while Australia rose 0.2% to a fresh all-time peak.
US stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading, as both the Dow and S&P 500 indexes clinched their first weekly gain in the past three weeks.
The Dow Jones rose 0.19%, S&P 500 gained 0.08% and Nasdaq Composite added 0.09%.
On the economic front, the government will release the provisional full-year GDP data post-market hours.
And on the earnings front, Aurobindo Pharma, Narayana Hrudalaya, Kolte Patil Developers and Chemcon Speciality Chemicals will declare their March quarter results during the day.
On Friday, the BSE Sensex climbed 307.66 points to close at 51,422.88 and Nifty rose 97.80 points to 15,435.70.