BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Indian shares look set to open on a flat note Monday as investors await the Budget announcement coming amidst the backdrop of the Covid-19 pandemic and an unusual macroeconomic environment.
Finance Minister Nirmala Sitharaman has increased hopes ahead of the Budget saying it will 'be a Budget like never before'.
RBI interest rate decision on Friday is another major event that would drive market sentiments this week.
Asian stocks are fluctuating this morning after two surveys showed factory activity in China slowed slightly in January.
Also, doubts have emerged about the future of President Joe Biden's $1.9 trillion relief package, with 10 Republican senators urging a $600 billion plan.
The dollar held firm and gold inched higher while demand concerns kept oil prices in check.
U.S. stocks tumbled on Friday as extreme volatility in a batch of small, heavily shorted companies such as GameStop, AMC Entertainment and Blackberry raised broader concerns about a bubble in a market.
Investor sentiment was also dented by news that Johnson & Johnson's (JNJ) one-dose coronavirus vaccine appears to be less potent against variants.
The Dow Jones Industrial Average lost 2 percent and the S&P 500 shed 1.9 percent to book their worst month of losses since October, while the tech-heavy Nasdaq Composite gave up 2 percent.
European markets fell sharply on Friday amid lingering concerns over tight liquidity in China and the slow pace of vaccination in the euro area.
The pan European Stoxx 600 plunged 1.9 percent. The German DAX lost 1.7 percent, France's CAC 40 index fell 2 percent and the U.K.'s FTSE 100 dropped 1.8 percent.
Copyright RTT News/dpa-AFX
© 2021 AFX News
