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Sensex, Nifty Seen Opening Marginally Lower

(RTTNews) - Indian shares are likely to open marginally lower on Monday as investors look forward to another batch of corporate earnings and eye developments in the liquidity situation of the NBFCs and HFCs for directional cues.

The direction of rupee and crude oil price movements may also influence trading sentiment ahead of Thursday's F&O expiry.

Prominent blue-chip companies like Asian Paints, Bajaj Auto, Bharti Airtel, HCL Technologies, ITC, Kotak Mahindra Bank, Maruti Suzuki, Wipro and Yes Bank are unveiling their quarterly earnings numbers this week.

The 30-share BSE Sensex fell 1.2 percent last week and the broader Nifty index lost 1.6 percent despite solid earnings from Reliance Industries and a slew of measures from the government and RBI to address the liquidity issue in the non-banking financial sector.

Asian markets are trading mostly lower this morning as concerns surrounding Saudi Arabia and the U.S-China trade spat kept investors at bay. The downside, however, remained limited following last week's coordinated pronouncements from three top Chinese financial regulators.

The dollar rose against the yen and gold hovered near a 2-1/2-month high hit last week while oil edged up on expectations of a tightening market amid looming U.S. sanctions against Iran.

U.S. stocks ended mixed on Friday, with upbeat earnings updates from the likes of Procter & Gamble, American Express and Honeywell as well as a rebound in Chinese equities helping limit the downside.

The Dow inched up 0.3 percent, while the tech-heavy Nasdaq Composite dropped half a percent and the S&P 500 finished marginally lower.

European markets fluctuated on Friday before ending mixed as third-quarter earnings proved to be a mixed bag and concerns over Italy's controversial budget plans drove Italian government bond yields to four-year highs.

The pan-European Stoxx Europe 600 index slid 0.1 percent. The German DAX dropped 0.3 percent and France's CAC 40 index declined 0.6 percent while the U.K.'s FTSE 100 rose 0.3 percent.
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