(RTTNews) – Indian shares look set to open higher on Monday after German Chancellor Olaf Scholz said there’s no reason for any kind of concern about Deutsche Bank.
Additionally, the U.S. Financial Stability Oversight Council said the U.S. banking system was “sound and resilient” despite stress on some institutions.
Global cues, FII activity and movement in the rupee and oil prices may sway sentiment as the day progresses.
Volatility is likely to persist this week ahead of F&O expiry and a holiday for markets on Thursday on account of Sri Ram Navami.
The RBI’s first monetary policy meeting for the next fiscal will be held on April 3. 5 and 6, with a 25-bps rate hike expected.
Asian markets were mixed this morning after the head of the International Monetary Fund warned of increased risks to financial stability. The dollar held steady while oil and gold prices were slightly lower.
U.S. stocks closed Friday’s session higher after a volatile trading session. Investors shrugged off data showing that durable goods orders unexpectedly fell by 1 percent in February from the month before.
The Dow edged up 0.4 percent, the tech-heavy Nasdaq Composite gained 0.3 percent and the S&P 500 added 0.6 percent.
European stocks fell sharply on Friday after Deutsche Bank’s credit default swaps jumped and reports indicated that Credit Suisse Group and UBS Group are under scrutiny in a U.S. probe for potentially helping Russian oligarchs evade sanctions.
The pan European STOXX 600 gave up 1.4 percent. The German DAX and France’s CAC 40 both fell around 1.7 percent while the U.K.’s FTSE 100 lost 1.3 percent.
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