INDIAN BENCHMARKS are likely to witness cautious opening as the global cues look slightly supportive with SGX Nifty trading 21.50 points higher.
Global Indices:
• Asian stocks rallied on Monday as a weaker yen bolstered markets in Japan while China replaced the head of its securities regulator, underpinning confidence in the country’s equities. China’s Shanghai Composite and Hang Seng advanced over 1 per cent each amid speculation that a new regulator for the China securities market may help boost the Chinese equity market.
• Wall Street closed little changed on Friday, marking the biggest weekly rally since November led by gains in shares of technology and consumer shares, offsetting a drop in oil prices. The Dow Jones Industrial Average fell 0.13 per cent; the Nasdaq Composite advanced 0.38 per cent while S&P 500 closed unchanged.
• European shares turned lower on Friday, hit by a drop in bank, oil and auto shares, as investors locked in gains following a strong week that has helped to stabilise markets after a tumultuous start to the year.
Trend in FII flows:
The FIIs were net sellers of Rs -191.73 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 16.53 Cr, as per the provisional figures released by the NSE.
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