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Indian shares may open higher on Friday, with banks and financials likely to be in focus, after the Union Cabinet decided to approve a government guarantee of up to Rs. 30,600 crore for security receipts to be issued by the National Asset Reconstruction Company Limited (NARCL). <\/p>\n
With this, the government has stepped up the process of setting up the proposed bad bank which will take over bad loans from banks worth Rs 2 lakh crore to resolve or liquidate.<\/p>\n
Meanwhile, the Goods and Services Tax (GST) Council will hold its 45th meeting today, with a decision expected on bringing petrol, diesel under the ambit of indirect tax.<\/p>\n
Benchmark indexes Sensex and the Nifty jumped 0.7 percent and 0.6 percent, respectively on Thursday to reach fresh record highs despite mixed global cues. The rupee slipped 2 paise to close at 73.52 against the greenback.<\/p>\n
Asian markets<\/span> traded mixed this morning as investors weighed risks from China’s clampdown on businesses and the prospect of reduced Federal Reserve stimulus.<\/p>\n Treasury yields and the dollar held firm while oil was steady in Asian trade. Gold held losses after dropping around two percent on Thursday.<\/p>\n U.S. stocks ended a choppy session narrowly mixed overnight as retail sales and jobless claims figures came in above expectations, giving ammunition to bets on early Fed tapering. <\/p>\n The Dow and the S&P 500 slipped around 0.2 percent while the tech-heavy Nasdaq Composite inched up 0.1 percent. <\/p>\n European stocks closed higher on Thursday as Ryanair lifted its traffic growth forecast and data showed Eurozone exports rose in July after six consecutive falls. <\/p>\n The pan European Stoxx 600 gained 0.4 percent. The German DAX and the U.K.’s FTSE 100 both edged up 0.2 percent while France’s CAC 40 index rose 0.6 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n