Indian shares are set to open higher on Monday on hopes of demand recovery in China, even as concerns of global recession linger.
Capping gains in Indian markets could be oil prices, which stabilised after a sharp decline in the previous session on optimism from China's easing of COVID-19 restrictions. Brent crude hovered around $80 per barrel.
The rise in oil prices is a negative for oil-importing countries like India, where crude constitutes the bulk of the import bill. Foreign institutional investors sold 19.75 billion rupees worth of equities on a net basis on Friday, while domestic investors bought 15.42 billion rupees of shares, as per provisional NSE data.
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