Indian stocks are anticipated to open slightly higher today prior to a hectic week filled with Q3 earnings announcements and economic reports related to retail inflation, industrial output, and trade balance.
Prominent corporations such as Bharat Forge, BHEL, Coal India, DLF, Eicher Motors, Hindalco, IRCTC, Mahindra & Mahindra, NHPC and SAIL are all set to release their Q3 results this week. Audit reports on CPI and industrial production are expected later in the day, followed by WPI data on the 14th of February and trade figures on the 15th of February.
Most Asian markets are lower today due to holiday trading. Investors are awaiting crucial U.S. inflation data due this week, which will inform future interest rates. Important markets such as China, Hong Kong, South Korea, Taiwan, Malaysia and Singapore remain closed in observance of public holidays.
The dollar is currently steady, whereas gold is fractionally lower. Simultaneously, oil prices have decreased after rallying last week because Iran's foreign minister stated that the Gaza war may be closer to a diplomatic resolution.
U.S. stocks rose on Friday following a revision that showed U.S. monthly consumer prices increased less than initially projected in December. The Nasdaq Composite, primarily consisting of tech stocks, soared 1.3%, marking its highest level in over two years. The S&P 500 index added 0.6%, exceeding 5,000 for the first time ever and achieving five consecutive weeks of gains, while the Dow fell 0.1%.
Meanwhile, European stocks closed lower on Friday as investors processed the latest earnings, German inflation data, and comments from Bank of England policymaker Jonathan Haskel demanding more evidence of price stability. The pan-European STOXX 600 finished slightly lower, with the German DAX and France's CAC 40 both falling around 0.2%, while the UK's FTSE 100 declined by 0.3%.
