(RTTNews) – Indian shares look set to open a tad higher on Monday after the latest U.S. jobs report suggested the economy is expanding but not fast enough to encourage the Federal Reserve to tighten monetary policy.
Falling COVID-19 infections in the country and accelerated pace of vaccinations may also offer some support, with several states and Union Territories easing the lockdown restrictions which they first started imposing in mid-April.
On the economic front, gross GST (Goods and Services Tax) collections in May (for sales in April) topped Rs 1 lakh crore for the eighth month in a row, despite most states imposing strict restrictions to break the chain of transmission of the infection.
Asian markets traded mostly higher this morning, though overall gains remained muted as investors looked ahead to the U.S. consumer-price inflation due this week for more clues.
Meanwhile, the Group of Seven rich nations on Sunday endorsed a global minimum corporate tax of at least 15 percent to make multinational companies pay more tax and impose levies on U.S. tech giants such as Amazon.com Inc. and Facebook Inc.
Gold held steady as bond yields retreated and the dollar dropped from a three-week high