Indian markets are closed on Monday on account of Mahashivratri. BSE, NSE, currency and commodity markets will remain closed today.
On Friday, Indian shares ended higher, boosted by financials, as investors pumped in money into equities amid hopes that tensions with Pakistan were easing. The benchmark BSE Sensex closed up 0.54 percent at 36,063.81 and the broader Nifty 50 ended 0.67 percent higher at 10,863.50.
Asian shares, however, gained on Monday on reports the United States and China were close to striking a trade deal after a year-long tariff skirmish while the dollar eased as traders wagered Federal Reserve policy would remain accommodative.
The Wall Street Journal reported Washington could lift most or all of its tariffs on Beijing while a summit between US President Donald Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen later this month.
That followed comments from Trump on Friday that he had asked China to immediately remove all tariffs on US agricultural products because trade talks were progressing well. He also delayed previously scheduled plans to impose 25 percent tariffs on Chinese goods.
All of that proved positive for risk sentiment with E-mini futures for the S&P500 and the Dow adding 0.4 percent each.
MSCI’s broadest index of Asia-Pacific shares outside Japan took the lead and climbed 0.1 percent for their second straight day of gains. Australian shares were up 0.7 percent while Japan’s Nikkei strengthened 0.8 percent. Chinese shares rallied too, with the blue-chip index up 1 percent.
With inputs from Reuters
