Asian markets advance on Monday, as mainland China markets reopen and investors bet that the Federal Reserve will slow the pace of rate hikes later this week.
The U.S. stocks pushed higher on Friday as Wall Street brushed off disappointing outlooks from some of the world’s largest technology companies to see the Nasdaq 100 rally 1%. Equity futures for Japan suggested early gains and Australian shares edged higher.
At 6:06 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was up 0.17% to 17,719.5.
Meanwhile, the yield on 10-year Treasuries advanced three basis points to 3.52%.
Crude price was trading above $87-mark, whereas Bitcoin traded above $23,000-level.
Indian benchmark indices ended the week in red amid losses in certain stocks and banking scrips.
Rupee continued to rise against the U.S. dollar even as a weak show by domestic equities restricted gains.
Overseas investors in Indian equities remained net sellers of Indian equities for the fifth day in a row on Friday. Foreign portfolio investors offloaded equities worth Rs 5,977.86 crore, while the domestic institutional investors mopped up stocks worth Rs 4,252.33 for the fourth day in a row, according to NSE data.
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