Indian equity benchmarks are set to open on a flat note with the Nifty 50 index seen opening above 17,900 on Monday, as indicated by Nifty futures trading on the Singapore Exchange. Nifty futures also known as SGX Nifty futures on the Singapore Exchange fell 7 points to 17,913. Asian shares rose on Monday as gains in China helped US stock futures cover early losses, while rising Treasury yields pushed the dollar to a nearly three-year peak against the Japanese yen.
Nasdaq futures and S&P 500 futures were both down about 0.1 per cent, but were well above opening levels. EUROSTOXX 50 futures fell 0.1 percent and FTSE futures held steady.
Oil prices extended their bull run, with gains in the energy complex raising inflation concerns.
Global equity markets were volatile on Friday on a weak US labor market report, and Treasury yields rose as investors still expect the Federal Reserve to begin reducing its massive bond purchases early next month.
The Dow Jones Industrial Average slipped 0.03 per cent, the S&P 500 fell 0.19 per cent and the Nasdaq Composite fell 0.51 per cent, with Wells Fargo down 4.7 per cent after cutting its price target on Comcast Corp.
Back home, foreign institutional investors sold shares worth Rs 64 crore on Friday and domestic institutional investors sold shares worth Rs 168 crore.
Reliance Industries will be in focus after the country’s most valuable company on Sunday announced two deals to buy solar capacity. Through Reliance New Energy Solar Limited (RNESL), Reliance is buying Norwegian-headquartered solar panel maker REC Solar Holdings from China National Bluestar (Group) Co., Ltd. for $771 million and up to 40 percent stake in Sterling and Wilson Solar. Is.
Tata Consultancy Services will be on investors’ radar after posting better-than-expected September quarter earnings after market hours on Friday. TCS’ net profit jumped 29 per cent to Rs 9,624 crore in the second quarter of the current fiscal from Rs 7,475 crore a year ago. Analysts had expected an average profit of Rs 9,601 crore, according to data from Refinitiv.
Aditya Birla Sun Life AMC will be in focus as the company makes its market debut at 10:00 am today. The IPO was subscribed 5.25 times.