The BSE Sensex and NSE Nifty are likely to open higher on Monday tracking SGX Nifty and Asian cues. The market sentiments may also get a support from the industrial output growth(came on Friday after market hours) that beat expectation and rose to 4.2% in July.
At 8.24 am (IST), SGX Nifty was up 38 points, or 0.49 per cent, at 7,817.50.
Asian shares opened positive on Monday, brushing off soft economic data from China, as investors looked to whether the US Federal Reserve is confident enough to raise interest rates for the first time in a decade.
Data published at the weekend showed growth in China’s investment and factory output missed forecasts in August, raising the chances that China’s third-quarter economic growth may dip below 7 per cent for the first time since the global crisis.
Hang Seng, Nikkei and Shanghai opened 0.8 per cent, 0.4 per cent and 0.65 per cent, respectively, higher than their previous close.
On Friday, the BSE Sensex and NSE Nifty closed on a flat note at 25,610.21 and 7,789.30.