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Indian shares are likely to open higher on Monday, tracking firm global cues and amid optimism about domestic economic growth. <\/p>\n
The rupee may see further upside after surging 53 paise Friday to a level not seen in over 10 weeks ahead of the key speech from U.S. Federal Reserve Chair Jerome Powell.<\/p>\n
Notwithstanding the pandemic severe shock, India’s macroeconomy is more healthy and ready for faster growth, eminent economist Ashima Goyal said on Sunday in an interview to PTI. <\/p>\n
“Portfolio inflows into India are not only due to the quantitative easing of rich countries’ central banks, they are also attracted by India’s growth prospects. All emerging markets<\/span> do not get such inflows,” the eminent economist opined.<\/p>\n Asian markets held steady this morning, while oil prices traded mixed after a powerful hurricane ploughed through the Gulf of Mexico. The dollar nursed losses, helping gold prices trade near their highest level in more than three weeks. <\/p>\n U.S. stocks ended Friday’s session on a buoyant note as Fed Chair Powell signaled the central bank is likely to begin tapering some of its easy-money policies before the end of the year but there’s “much ground to cover” before rate hikes happen.<\/p>\n The broad-based S&P 500 climbed 0.9 percent to close above the 4,500 mark for the first time ever, while the Dow rose 0.7 percent and the tech-heavy Nasdaq Composite rallied 1.2 percent. <\/p>\n European stocks also ended higher on Friday after Powell’s dovish comments and lack of a specific tapering timeline at the Jackson Hole economic symposium.<\/p>\n The pan European Stoxx 600 advanced 0.4 percent. The German DAX rose 0.4 percent, France’s CAC 40 index edged up 0.2 percent and the U.K.’s FTSE 100 added 0.3 percent. <\/p>\n<\/p>\n<\/div>\n