Indian shares are likely to witness a weak opening as the global markets look unsupportive with SGX Nifty trading 24.00 points lower.
Indian equities are poised to open flat and may continue to consolidate on Monday, tracking weak cues from fellow Asian peers, ahead of key earnings result later in the day. Bearish trend in the SGX Nifty Index Futures for January delivery, which were trading at 8,400.00, down by 24.00 points or 0.29 per cent, at 10:56 AM Singapore time, also signaled a negative start for Sensex.
Shares of Reliance Industries, LIC Housing Finance, Geometric and Dewan Housing Finance Corporation will also remain in limelight as they will release their earnings report later today.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 27238.06, down by 9.1 points or by 0.03 per cent, and the NSE Nifty ended at 8400.35, down by 6.85 points or by 0.08 per cent.
US markets President-elect Donald Trump has warned the United States will impose a border tax of 35 percent on cars that German carmaker BMW plans to build at a new plant in Mexico and export to the U.S. market.
European shares rose on Monday, led higher by banks stocks, with Britain’s blue chip index finishing at an all-time high after extending a record winning streak to 14 days.
Sterling slid to three-month lows in Asia on Monday with investors again spooked by concerns over Britain’s exit from the European Union, while U.S. policy uncertainty lingered ahead of President-elect Donald Trump’s inauguration.
Major Headlines of the day:
• Maruti Suzuki launches Compact crossover car Ignis
• OMCs increase petrol price by Rs0.42/litre and diesel price by Rs1.03/litre
• DCB Bank posts strong Q3FY17 results with PAT growth of 25% YoY
Trend in FII flows: The FIIs were net buyers of Rs – 117.59in the cash segment on Friday while the DIIs were net sellers of Rs – 473.50 as per the provisional figures.
UPCOMING RESULTS: RELIANCE, LIC HOUSING, DHFL
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