INDIAN BENCHMARKS equity benchmarks are set to witness a bullish opening on Monday tracking a strong rally across markets in Asia ahead of key policy meetings of Bank of Japan and US Federal Reserve this week as traders bet on major central banks to help support a flagging global economic recovery, bolstering the appetite for risky assets. SGX Nifty is trading 61.00 points higher. The focus today will be on the CPI and WPI data which, coupled with Friday’s industrial output numbers may further press the case for the RBI to cut interest rates at its April meet.
Headlines for the day:
Apollo Hospitals acquires 51% stake in Assam Hospitals
IndiGo receives first Airbus A320neo after delay
Apollo Tyres finds skills shortage in Hungary a challenge
Asian shares started the week higher on Monday, buoyed by gains on Wall Street, firmer crude prices and glimmers of strength in weekend data from China.
European shares bounced back on Friday, with the European Central Bank's new cheap funding plan supporting lenders in the euro zone periphery and a recovery in metal and oil prices boosting stocks in commodity companies.
US stocks closed sharply higher Friday as oil prices rose and investors took a more positive view of Thursday's European Central Bank announcements on stimulus.
Trend in FII flows:
The FIIs were net sellers of Rs -378.37 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 432.81 Cr, as per the provisional figures released by the NSE.