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Investors will watch Reserve Bank of India’s monetary policy, global cues, foreign fund and election results outflows this week.
U.S. jobs data was stronger than expected on Friday, raising fears that the Federal Reserve still may not have room to slow does its hikes. A surge in Treasury 10-year yields fizzled out. The S&P 500 fell as much as 1% but erased gains to close 0.1% lower. The Nasdaq 100 fell 0.4%, while the Dow Jones Industrial Average was little changed.
Back home, S&P BSE Sensex and Nifty 50 snapped their eight-day gaining streak to end lower on Friday. The S&P BSE Sensex closed 415.69 points lower at 62,868.50, while the Nifty 50 shed 116.40 points to end at 18,696.10. Both the benchmarks scaled new lifetime highs earlier in the week.
The focus will stay on the RBI’s Monetary Policy Committee’s rate decision on Dec. 7.
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Image and article originally from www.bqprime.com. Read the original article here.