{"id":10311,"date":"2021-05-31T03:03:38","date_gmt":"2021-05-31T03:03:38","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/05\/31\/sensex-nifty-set-for-weak-start\/"},"modified":"2021-05-31T03:03:38","modified_gmt":"2021-05-31T03:03:38","slug":"sensex-nifty-set-for-weak-start","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/05\/31\/sensex-nifty-set-for-weak-start\/","title":{"rendered":"Sensex, Nifty Set For Weak Start"},"content":{"rendered":"
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Indian shares look set to open lower on Monday, mirroring weak cues from other Asian markets<\/span> and amid caution ahead of key macroeconomic data lined up this week. <\/p>\n

The MPC’s interest-rate decision, GDP data for the first quarter, fiscal deficit numbers for the April-March period, monthly auto sales numbers, core sector figures and Markit Manufacturing PMI and services data would be the major highlights of this week. <\/p>\n

On the COVID-19 front, India posted its lowest daily rise in infections in over a month and the painfully high death count in the second wave of the pandemic is finally coming down, raising expectations of state-wise unlocking and giving hopes of economic recovery. <\/p>\n

Asian markets are moving lower as tension between the U.S. and China climbed amid calls for a fresh probe into the origins of COVID-19 and China said its manufacturing activity grew at a slightly slower pace in May. <\/p>\n

A rapidly rising yuan also drew increased scrutiny in global financial markets, with two state-run newspapers flagging risks fueled by rapid gains in the currency. <\/p>\n

Brent crude futures for August held firm in Asian trade, after having settled at their highest in two years on Friday. <\/p>\n

Bitcoin traded around $35,000 after a Friday slump as Bank of Japan Governor Haruhiko Kuroda warned about the token’s recent volatility and speculative trading.<\/p>\n

U.S. stocks eked out modest gains on Friday as President Joe Biden’s budget revealed a blueprint for addressing long-standing inequities in the U.S. economy<\/span> and an inflation reading preferred by the Federal Reserve showed an acceleration in the pace of price growth, but not as much as traders had feared.<\/p>\n

The Dow edged up 0.2 percent, while the S&P 500 and the tech-heavy Nasdaq Composite both inched up around 0.1 percent.<\/p>\n

European stocks also ended in positive territory on Friday on the back of upbeat U.S. economic data and prospects of additional fiscal stimulus. <\/p>\n

The pan European Stoxx 600 rose 0.6 percent. The German DAX and France’s CAC 40 index both gained around 0.7 percent while the U.K.’s FTSE 100 ended flat with a positive bias. <\/p>\n<\/p>\n<\/div>\n