Asian shares pulled ahead on Monday while bonds were in demand globally.Domestic equity benchmarks are set to open higher as indicated by the Nifty futures traded on the Singapore Exchange.
The SGX Nifty or Nifty futures traded on Singapore Exchange rose 0.23 per cent or 26 points to 11,500.
In Friday's session, the benchmarks clocked their fifth straight day of gains as foreign investors bought shares worth Rs 4,323.49 crore.
Meanwhile, the rupee is set for a minor decline as the local unit fell to 69.11 per dollar versus 69.09 on Friday in the non-deliverable forwards market (NDF), according to xe.com.Foreign investors have been buying Indian shares since the start of this month and the foreign portfolio investors have so far purchased shares worth Rs 17,919 crore, according to data compiled by National Securities Depository Limited (NSDL).Meanwhile, Asian shares pulled ahead on Monday while bonds were in demand globally on mounting speculation the US Federal Reserve will sound decidedly dovish at its policy meeting this week.Japan's Nikkei led the way with a rise of 0.56 per cent, and MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.35 per cent.Shanghai blue chips firmed 0.8 per cent, while E-Mini futures for the SP 500 were a fraction lower.
The SP 500 boasted its best weekly gain since the end of November last week, while the Nasdaq had its best week so far this year.Back home, Jet Airways will be in focus after its pilots' union wrote to the government, seeking its help in recovering their pending salaries along with the accumulated interest.Jet Airways currently has 1,900 pilots on its rolls.
In a letter written to Minister of Labour and Employment Santosh Gangwar, the National Aviators Guild (NAG), which represents the majority of Jet's pilots, said that all pleas to the Jet management in this regard "have fallen on deaf ears".Bandhan Bank will be in focus after it informed exchanges that it has received no objection from the Reserve Bank of India (RBI) for the proposed acquisition of Gruh Finance."The Reserve Bank has by its letter dated March 14, 2019, conveyed its no objection for the voluntary amalgamation of Gruh Finance Ltd into and with Bandhan Bank, subject to compliance with the terms and conditions therein," the bank said in a regulatory filing.(With inputs from agencies)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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