Indian Shares Likely To Open On Flat Note

(RTTNews) - Indian shares are seen opening little changed on Monday, with underlying sentiment likely to remain underpinned by improving earnings visibility and expectations of a more supportive global liquidity environment going forward. Banking stocks could be in focus today after several banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank reported their Q1FY27 business updates over the weekend. Benchmark indexes Sensex and Nifty rose around 0.3 percent and 0.4 percent respectively on Friday to extend gains for the third consecutive session. Foreign institutional investors net bought Indian equities worth Rs. 1,355 crore on Friday, snapping a four-session losing streak, while domestic institutional investors turned net sellers after two weeks and offloaded shares worth Rs. 1,954 crore, according to provisional exchange data. Asian markets were broadly higher this morning as technology stocks extended their rebound after Nvidia Corp's server assembly partner Hon Hai Precision Industry reported a bigger-than-expected 40 percent jump in quarterly sales and said AI demand is growing further. The U.S. dollar steadied near a two-week low after posting its biggest weekly drop last week since April. Gold rose about half a percent towards $4,200 an ounce as falling oil prices helped ease some of the inflationary concerns. Brent crude futures were subdued below $72 a barrel, hovering at their lowest levels since late February as flows persisted via the Strait of Hormuz and OPEC+ agreed to raise its collective oil production target by a further 188,000 barrels per day from August. U.S. stock markets were closed on Friday in observance of Independence Day. European stocks hit a record high on Friday and logged a fourth straight week of gains as weak jobs data spurred hopes that the U.S. Federal Reserve will not tighten its monetary policy for now. The pan European Stoxx 600 climbed 0.7 percent. The German DAX surged 0.8 percent, France's CAC 40 rose 0.4 percent and the U.K.'s FTSE 100 added 0.3 percent.