Mumbai: Indian benchmark indices BSE Sensex and NSE’s Nifty 50 are set to open higher on Monday, tracking positive cues in global markets, as December-quarter corporate earnings season begins this week. Japan’s Nikkei shot up 3.1%, helped in part by a pullback in the yen, while South Korea added 1.5%. Chinese stocks firmed after the country’s central bank announced an easing in policy.
Oil prices rose by over 1%, lifted by US-China trade talks, while supply cuts by major producers also supported the market. SGX Nifty Futures traded 103.50 points up at 10882, indicating a positive start for the Sensex and the Nifty 50.
Titan shares rally 4% after robust jewellery sales growth
Shares of jewellery-maker Titan rallied in trade on Monday morning, after the firm said that good growth momentum is seen across all its businesses in the seasonally strong third quarter. Titan shares gained by more than 3.8% to Rs 964 on BSE this morning.
Bandhan Bank Falls After Report Of Merger With Gruh Finance
Shares of the private lender fell as much as 4.5 per cent, the most in over two months, to Rs 505.05.
Commodity corner: Oil prices up 1%, gold edges lower
Oil prices rose by more than 1%, lifted by optimism that talks could soon resolve the trade war between the US and China, while supply cuts by major producers also supported the market.
Rupee rises against dollar
The Indian rupee rose to a five-month high after the US dollar fell as trade talks between the US and China began and traders weighed the possibility of the Federal Reserve pausing interest rate hikes. At 9.10am, the rupee was trading at 69.39 a dollar, up 0.54% from the previous close of 69.73.