Indian bourses are set for a tepid start on Monday amid muted sentiment in global markets and as investors turned their focus to the new government’s fiscal support plan and key economic data due to be released this week.
Moreover, the Reserve Bank of India has announced that it will inject Rs 15,000 crore into the financial system in June through the purchase of government bonds in order to support the evolving liquidity situation.
In global markets, Asian stocks traded marginally higher but gains were limited by concerns that the China-US trade conflict was fast turning into a technology cold war between the world’s two largest economies.
The BSE Sensex closed 623 points, or 1.6 percent, higher at 39,435, up 4 percent for the week, while the broader NSE Nifty50 ended 187 points higher, or 1.6 percent, at 11,844, up 3.8 percent for the week.
At 7.07 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, traded 32.50 points, or 0.27 percent, lower at 11,845, indicating a negative start for the Sensex and the Nifty 50.
Stocks to watch: Manpasand Beverages, NTPC, NIIT Tech in focus. Click here to know more.
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