Mumbai: The markets are expected to be steady on Monday while global equities are firm. Asia stocks edged up early on Monday, and the euro was confined to a narrow range after the weekend’s European Parliament elections highlighted the deepening political fragmentation of the 28-country block.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1%. Gains were limited by persistent concerns that the China-US trade conflict was fast turning into a technology cold war between the world’s two largest economies. Japan’s Nikkei climbed 0.2%.

Wall Street’s major indices edged higher on Friday in a rebound from the previous session’s losses after comments from the US President Donald Trump regarding trade relations with China gave the wary markets a bit of a respite.

Back home, companies which will declare their March quarter earnings on Monday includes Abbott India, Adani Ports, BHEL, Colgate-Palmolive, Emami, GAIL India, Interglobe Aviation, Oil India and Zee Entertainment etc.

Shares of NBFCs are likely to be in focus after the Reserve Bank of India (RBI) on Friday released the much-awaited draft guidelines on liquidity risk management framework for non-banking financial companies (NBFCs) and core investment companies (CICs). The guidelines come on the back of rating downgrades and debt defaults in the NBFC sector and the need for a stronger asset liability management (ALM) framework.

The dollar index against a basket of six major currencies inched down 0.05% to 97.563. The pound was 0.1% higher at $1.2727. Sterling had bounced back from a near five-month trough of $1.2605 after British Prime Minister Theresa May said she would quit early next month. The euro was a shade higher at $1.1211, holding within a tight $1.2272-$1.2754 range.

The US crude futures crawled up 0.38% to $58.85 per barrel, trimming some of the deep losses suffered last week when trade tensions clouded the global demand outlook for the commodity. Brent crude rose 0.79% to %69.24 per barrel.

(Reuters contributed to the story)