Domestic equity indices are prone to kick-start the abbreviated week on a cautious note on Monday, following mixed trading Asian markets.
At 7:45 am - On the Singapore Stock Exchange, Nifty50 futures was trading in red with 19 points lower at 7,593.50, demonstrating a negative opening for the domestic market.
Technical charts look promising
On Friday, Nifty50 managed to close above the 7,600 imprint. Experts believes if the index finds initial momentum on Monday, it might perhaps move higher.
According to experts, if Nifty50 were to open above 7,600-7,615 points on Monday, it might set off for the races and probably trade can be done aggressively. Also, market mood will rely on upon global market trends, Foreign Portfolio Investors (FPIs) and crude oil price movement.
RBI is expected to cut interest rates by 25 basis points at its policy audit on April 5, after data on Monday demonstrated inflation facilitating more than anticipated in February.
US market climbed towards green on Friday
With the S7P500 index securing 0.44 percent to 2,049.55, Wall Street ended reflecting green on Friday. Dow Jones industrial average progressing 0.69 percent to 17,602.30. In the mean time touched $42 a receptacle mark in trade.
Brent crude settled 34 cents, or 0.8 percent, lower at $41.20 a barrel on Friday. US crude oil then again settled down 76 cents or 1.9 percent at $39.44.
Asian Markets stay mixed.
Most Asian markets were trading mixed. Japan's markets were closed for the day by virtue of Spring Equinox Day. China's CSI300 rose 2.40 percent to 3,230. Other Asian lists, including Hong Kong's Hang Seng (down 0.27 percent ), South Korea's Kospi (down 0.18 percent) and Taiwan's TWSE (down 0.46 percent) were trading in green (higher).