Indian shares will likely open higher on Monday, tracking gains in the broader Asian market, as mixed U.S. jobs data bolstered expectations that the Federal Reserve may skip an interest rate hike later this month.
, registered their second-straight weekly gain on Friday, lifted by stronger-than-expected economic growth data and fast-paced expansion of the country's factory output.
This week investors will closely watch the Reserve Bank of India's monetary policy decision. The Indian central bank is expected to leave its key interest rate unchanged on June 8 and for the rest of 2023, a Reuters poll of economistsOn Monday, Asian shares extended a global rally on optimism the Fed would pause rate hikes this month after data showed that while theAnother report showed U.S.
Meanwhile, foreign institutional investors sold 6.59 billion rupees worth of Indian equities on Friday, while domestic investors bought 5.82 billion rupees of shares on a net basis, as per provisional NSE
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