Indian stock markets are closed today in observance of Bakri Id. With no significant domestic developments, market sentiment for the truncated week may be influenced by global cues, foreign investor trading activity, oil price movements, and monsoon updates from the India Meteorological Department (IMD).
Last week, the 30-share BSE Sensex rose by 299.41 points, or 0.39 percent, while the broader NSE Nifty index increased by 175.45 points, or 0.75 percent.
This morning, Asian markets were generally lower due to political uncertainties in Europe affecting investor risk appetite. Traders also reacted to mixed Chinese data and awaited key central bank meetings this week for further direction.
Central banks in Australia, Norway, and the U.K. are projected to maintain their current rates, while there is growing speculation that the Swiss National Bank (SNB) may implement another rate cut.
Japan's Nikkei index dropped nearly 2 percent as investors anticipated details on the Bank of Japan's upcoming tightening measures.
The dollar remained strong in Asian trading, while oil and gold experienced modest declines. In the U.S., stocks ended narrowly mixed on Friday but recorded strong weekly gains amid increasing optimism for a Federal Reserve interest rate cut in September.
In economic news, U.S. import prices saw their first decline in five months in May, year-ahead inflation expectations remained stable at 3.3 percent in June, and consumer sentiment fell to a seven-month low in June, according to separate reports.
The tech-heavy Nasdaq Composite inched up 0.1 percent to a record closing high, while the S&P 500 finished slightly lower, and the Dow Jones Industrial Average eased by 0.2 percent.
European stocks plunged on Friday, with political tensions in the region and concerns over potential Chinese tariff retaliation weighing on sentiment. The pan-European STOXX 600 lost 1 percent, the German DAX fell by 1.4 percent, France's CAC 40 plummeted by 2.7 percent, and the U.K.'s FTSE 100 dipped by 0.2 percent.
