(RTTNews) - Indian shares may open on a subdued note Monday, tracking weakness in global markets.
Reliance Industries, HDFC Bank, UltraTech Cement, Wipro, Paytm and BPCL are likely to be in focus after unveiling their Q1 numbers post market hours on Friday.
Expectations around the upcoming Union Budget, the next batch of quarterly earnings and foreign investor activity may influence trading sentiment as the week progresses.
Asian markets fell this morning and the dollar edged lower following U.S. President Joe Biden's abrupt decision to end his re-election campaign against former President Donald Trump.
Biden also offered his "full support and endorsement" for Vice-President Kamala Harris as the presidential nominee for the Democratic Party.
Elsewhere, China's central bank cut a key short-term interest rate to boost growth in the world's second-largest economy.
Oil and gold prices were seeing modest gains in Asian trade due to dollar weakness. U.S. stocks ended firmly in the red on Friday amid a continued selloff in technology stocks. Also, a major global technical outage added uncertainty to an already-anxious market.
The tech-heavy Nasdaq Composite shed 0.8 percent and the S&P 500 gave up 0.7 percent to post their biggest weekly losses since April while the Dow declined 0.9 percent and managed to post a slight gain for the week.
European stocks closed lower on Friday on the back of downbeat earnings and falling commodity prices on deepening Sino-U.S. trade tensions.
The pan European STOXX 600 fell 0.8 percent. The German DAX lost 1 percent, France's CAC 40 slid 0.7 percent and the U.K.'s FTSE dipped 0.6 percent.
