Indian shares were poised to open higher on Monday, aided by a broad risk-on sentiment after U.S. data hinted at less aggressive rate hikes, with investors turning focus on corporate health as earnings season kicks off.
India's NSE stock futures listed on the Singapore exchange were up 0.85% at 18,112.50, as of 7:50 a.m. IST on Monday.
Equities were helped by gains seen overnight on Wall Street on Friday, with U.S. payrolls expanding more than expected and easing worries about the Federal Reserve's interest rate-hiking path. Broader Asian equities also got a boost from China re-opening its borders on hopes that it could improve the outlook for the global economy.was set to report third quarter results after market close.
Analysts expect weak Q3 revenue growth for IT services firms, on the back of deteriorating macroeconomic conditions and furloughs in the quarter.Meanwhile, foreign institutional investors extended their selling streak for the eleventh day in a row,Domestic investors bought 10.83 billion rupees worth of shares, as per provisional NSE data.
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