The Indian market is expected to open in green Monday with the SGX Nifty, an indicator of pre-market opening, trading at 8450, up 26 points in early morning trade.
However, last week the benchmark indices tumbled with the Sensex and Nifty plunging nearly 2.7-2.8 percent from previous week’s closing levels. Second line shares fared worse than their large cap counterparts, with the BSE midcap index and BSE small-cap shedding 4 percent and 5.6 percent respectively.
Among global markets, in the US, stocks closed mildly higher as investors digested Fed Chair Janet Yellen's remarks remained cautious ahead of first quarter earnings in April. Yellen said a rate increase may be warranted later this year, adding that an increase in core inflation is not essential before the fed raises rates. The third estimate for Q4 US GDP came in unchanged at 2.2 percent. While corporate profits fell, consumer spending was revised higher to 4.4 percent from 4.2 percent, the fastest rate since the first quarter of 2006.
In Europe, equities closed mixed, but lower for the week, as investors mulled the growing conflict in Yemen. Ukraine and Russia both ended down more than 1 percent.
And in Asia, shares open with a positive bias. Softer than expected factory output from Japan hurt sentiment, February industrial production fell 3.4 percent month-on-month, biggest drop since June 2014. In the currency space, the dollar holds steady after the head of the US central bank assured investors that the path back to 'normal' interest rates will only occur at a gradual pace
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