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Stock impact report

Indian shares set to open higher in line with global peers [Reuters]

ICICI Bank Limited (IBN) 
Company Research Source: Reuters
India's GIFT Nifty was trading at 22,787 as of 07:12 a.m. IST, indicating that the Nifty 50 will open above its close of 22,643.40 on Monday. A string of better-than-expected quarterly results from Nifty 50 components including ICICI Bank and boosted the benchmarks on Monday. Corporate earnings optimism has offset concerns about higher-for-longer interest rates ahead of the U.S. Federal Reserve policy meeting outcome this week, said Deepak Jasani, head of retail research, HDFC Securities. Metal stocks are expected to continue the rally on extended surge in global prices, driven by supply concerns, analysts said. Asian shares inched up, while the Wall Street stocks ended higher overnight, as investors eye the Fed's interest rate outlook. Markets are pricing in a 97.3% chance of the Fed keeping rates unchanged in May 2024, according to the , compared with a 90.7% chance at the end of March. Foreign institutional investors sold Indian shares for a sixth straight session on M Show less Read more
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