The Indian headline indices- Sensex and Nifty, opened higher on Monday morning, tracking positive global cues. While the Sensex is trading at 38,959.22, 0.25% higher than the last close, Nifty is trading at 11,685.85, 19.90 points ip from the previous close. SGX Nifty was last seen trading at 11,766.50 level, 6.50 points lower than the previous close. On Friday, both the top Indian indices ended in green. We take a look at the key factors which would sway the Sensex and Nifty today:
BJP Manifesto: The Bharatiya Janata Party will release its manifesto for the Lok Sabha polls beginning from April 11 on Monday. Development and national security are likely to be the key highlights. Yesterday, the ruling party released its manifesto for Odisha.
Crude oil price: The crude oil prices touched five month high on Monday on account of supply cuts from the organization of the petroleum countries or OPEC and US sanctions on Iran and Venezuela. International benchmark Brent futures were at $70.67 per barrel at 0022 Greenwich Mean Time (GMT) on Monday, up 0.5 per cent from their previous close.
US Job data: The world’s biggest economy US added 196,000 jobs in March, according to a government report released on Friday as against the economists prediction of only 175,000. Unemployment rate steady at 3.8%.
US-China trade talk: There is optimism around US-China trade talk. According to Reuters both the countries wrapped up their latest round of trade talks on Friday and would resume discussions this week to try to secure a pact that would end a tariff war which started last year.
FII flows: There has been a strong inflow of Foreign institutional investors (FIIs) in the last two months ahead of general elections as the investors are hoping that the Modi-government will come back to power this year. In April till now, the foreign investors invested Rs 8,989 crores while in the month of March, they poured in around Rs 34,000 crore into the domestic equity markets in March.
