Indian equity markets are poised to open slightly higher on Monday, as investors respond to earnings reports from HDFC Bank, Kotak Mahindra Bank, and Tech Mahindra, which were released over the weekend.
This week, more than 400 companies, including Hindustan Unilever Limited (HUL), Coal India, and Godrej Consumer Products, are expected to disclose their quarterly earnings results.
Investor sentiment could be influenced by the release of minutes from the Reserve Bank of India's October policy meeting, along with forthcoming private surveys on domestic manufacturing and services.
Additionally, in an official statement, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) announced that they will conduct their annual Diwali Muhurat trading session on Friday, November 1, 2024, from 6:00 PM to 7:00 PM.
Asian markets exhibited cautious movement this morning, despite China reducing its key benchmark lending rates by 25 basis points in a bid to stimulate economic growth.
The U.S. dollar gained strength, energized by increasing odds of a Donald Trump victory in the November 5 election, while oil prices stabilized after a nearly 8 percent drop last week amid concerns over demand in China, the world's largest oil importer.
Gold maintained values near record highs, driven by geopolitical tensions and uncertainties surrounding the U.S. election.
In the United States, stock markets advanced on Friday as economic optimism surged and investors positioned themselves for a potential Trump win in the upcoming presidential elections. The Nasdaq climbed 0.6 percent, buoyed by streaming giant Netflix exceeding Wall Street expectations for subscriber growth.
The Dow Jones Industrial Average ended slightly higher, and the S&P 500 increased by 0.4 percent, achieving new record closing highs and securing six consecutive weeks of gains despite disappointing housing data.
European markets also concluded on a positive note on Friday, marking a second consecutive week of gains. An ECB survey suggested that inflation might revert to the central bank's target sooner than previously anticipated. The pan-European STOXX 600 increased by 0.2 percent, while Germany's DAX and France's CAC 40 both grew by approximately 0.4 percent. The U.K.'s FTSE 100, however, declined by 0.3 percent.
