(RTTNews) – Indian shares are likely to open a tad higher on Friday amid optimism that consumer and business confidence will get a boost, reflecting a phased easing of the lockdowns and a faster pace of vaccinations.
The government does not expect the economic impact of the second wave of the COVID-19 pandemic to be as severe as the first, said finance secretary TV Somanathan in an interaction with the media.
Banks could be in focus after the Reserve Bank of India (RBI) said it would conduct third tranche of open market purchase of Rs 40,000 crore under G-sec acquisition program on June 17.
In another development, media reports suggest that State Bank of India plans to transfer bad loans worth Rs 20,000 crore to the National Asset Reconstruction Company.
Benchmark indexes Sensex and the Nifty climbed around 0.7 percent each on Thursday amid the weekly expiration of index futures and option contracts.
The rupee ended down 9 paise at 73.06 against the dollar, extending losses for the third straight session.
Asian markets held mostly steady this morning as the G7 summit gets underway in Cornwall. A weaker dollar and U.S. bond yields helped gold hover