The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Monday tracking SGX Nifty and Asian markets. (Photo: Reuters)
The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Monday tracking SGX Nifty and Asian markets.
At 8.28 am (IST), SGX Nifty was down 0.25 per cent, or 19.50 points, at 7,945.50.
Asian shares were on edge on Monday after a sharp fall in Chinese markets in the previous session, while the euro hovered near seven-month low as the currency braced for the European Central Bank’s monetary easing later this week. Nikkei, Hang Seng and Shanghai were down 0.38 per cent and 0.10 per cent and 0.21 per cent.
On Friday, the Shanghai Composite index and the CSI300 both fell more than 5 per cent, registering their biggest one-day drops in more than three months on signs that the country’s securities regulator was clamping down anew on leveraged buying.
Back home, Sensex closed 169.57 points up at 26,128 on Friday on hopes of a likely breakthrough in the passage of the Goods and Services Tax (GST) in the current Winter session of the Parliament. Nifty 50 index closed 58.90 points up at 7,942.70.
Shares of United Breweries (Holdings) Ltd (UBHL), Emami Paper Mills will remain in focus on Monday. The capital markets regulator Sebi slapped a fine of Rs 15 lakh on UBHL for not making disclosures regarding creation and invocation of certain pledge transactions in shares of United Spirits.
Emami Paper Mills, the country’s largest newsprint manufacturer, has decided to increase investment in paperboards to Rs 2,000 crore in the next three years to strengthen its diversification to the high-margin segment.
(With inputs from agencies)
In terms of sectors, agriculture is expected to see a slowdown on a QoQ basis possibly because of the lesser or deficit monsoon. It is hence expected to come in at around 1.1% and the range is anywhere between 0.5% and 2% this time.
HDFC Bank's valuation surged by Rs. 2,457.71 crore to Rs. 2,71,897.62 crore, while Coal India market cap rose by Rs. 1,831.74 crore to Rs 2,12,387.75 crore.
