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Indian markets could open higher, in line with positive Asian markets today and positive US markets on Monday..… - HDFC Securities

U.S. stock indexes closed higher Monday, with the Dow booking a third straight advance, as technology stocks soared to begin the final week of trade for May. Stocks finished near record territory Monday, as investors appeared to be shaking off uncertainty around the next phase of the economic recovery, as businesses grapple with stressed supply chains, soaring consumer demand and climbing prices as the world reboots from the pandemic. The yield on the benchmark 10-year U.S. Treasury note dipped to one-week low of 1.608%.

The U.S. national activity index reading of 0.24 against expectations above 1, along with dovish comments from Federal Reserve speakers, helped support the view that policy will remain on hold for some time

In India, weekly unemployment rate rose for the fourth straight week to the highest since June last year, according to the Centre for Monitoring the Indian Economy. Unemployment rate rose to 14.73% for the week ended May 23 (from 14.4% last week), led by a spike in urban areas even as unemployment in rural areas eased.

Asian shares climbed in early trade on Tuesday, tracking a Wall Street rally overnight, while the dollar held near a fourth-month low as investors tempered fears about inflation-driven rate hikes.Singapore’s economy expanded by 1.3% year-on-year in the first quarter

Indian benchmark equity indices ended mildly higher in a volatile session on May 24. At close, the Nifty was up 22.40 points or 0.15% at 15,197.70.

Nifty closed mildly higher on May 24, forming a doji after a rise, suggesting indecision at higher levels even as the Nifty approached past resistance levels. Largecaps are finding it difficult to rise as a group while the broader market still keeps doing well. 15336-15108 is the band for the Nifty for the near term.

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