Indian Shares Seen Opening On Subdued Note

RTTNews | 259 days ago

(RTTNews) - Indian shares may open on a subdued note Monday morning, tracking a slightly weak close on Wall Street on Friday, and mixed Asian stocks. GIFT Nifty futures were up slightly a little while ago.

Investors will be reacting to some corporate news.

Punjab National Bank shares will be in focus after the bank reported a fraud of over Rs 2,000 to the RBI. The case involves the loan accounts of SREI Equipment Finance (Rs 1,241 crore) and SREI Infrastructure Finance (Rs 1,193 crore). The bank has fully provisioned for these outstanding accounts, as disclosed in its stock exchange filing.

NBCC will be in focus. The state-run company said on Friday that it will receive a 21.23-acre land parcel in south Delhi as its share following the settlement of a dispute with the Delhi government, and will develop a mixed-use real estate project on this site with an estimated revenue of about Rs 8,500 crore.

Coforge has opened a new tab to acquire artificial intelligence firm Encora at an enterprise value of $2.35 billion to boost in-house AI capabilities and expand presence in the U.S. and Latin America.

On the economic front, data on industrial production and manufacturing sector output for the month of November will be out after trading hours today.

On Friday, Indian shares ended lower despite firm cues from global markets. Losses in financials, auto, IT, and select pharma stocks weighed on the headline indexes.

The benchmark BSE Sensex dropped 367.25 points, or 0.43%, to 85,041.45 as trading resumed after a holiday on Thursday for Christmas. The broader NSE Nifty index fell 99.80 points, or 0.38%, to 26,042.30.

On Wall Street, stocks showed a lack of direction during the trading session on Friday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing slightly lower.

The S&P 500 reached a new record intraday high in early trading before closing down 2.11 points or less than a tenth of a percent at 6,929.94. The Dow also edged down 20.19 points or less than a tenth of a percent to 48,710.97, while the Nasdaq slipped 20.21 points or 0.1% to 23,593.10.

Australian Market Trims Early Slight Losses In Mid-market

The Australian stock market is trimming its early slight losses in mid-market trading on Monday, snapping a four-session losing streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to near the 8,750.00 level, with gains in energy, financial and technology stocks.

RTTNews | 1h 22min ago

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Monday, despite the broadly positive cues from Wall Street on Friday, amid surging crude oil prices after the critical East-West pipeline was shut by Saudi Arabia following drone attacks and talks between Iran and the GCC about a possible reopening of the Strait of Hormuz were postponed. The pipeline provided an alternative route around the Strait of Hormuz.

RTTNews | 1h 34min ago

Thai Stock Market: Support Expected At 1,600 Points

The Thai stock market has moved lower in three straight sessions, sinking more than 15 points or 0.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,600-point plateau although it may halt its slide on Monday.

RTTNews | 2h 49min ago

Japanese Market Sharply Lower

The Japanese stock market is sharply lower on Monday, extending the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The Nikkei 225 is falling below the 63,050 level, with weakness in index heavyweights and technology stocks partially offset by gains in financial stocks.

RTTNews | 3h 13min ago

Indonesia Stock Market Poised To Open To The Upside On Monday

The Indonesia stock market has finished lower in three straight sessions, surrendering almost 150 points or 2.4 percent in that span. The Jakarta Composite Index now rests just above the 6,540-point plateau although it's expected to open higher on Monday.

RTTNews | 3h 19min ago

Hong Kong Stock Market May Stop The Bleeding On Monday

The Hong Kong stock market has moved lower in four straight sessions, sliding more than 800 points or 3.2 percent along the way. The Hang Seg Index now sits just above the 24,800-point plateau although it's expected to open in the green on Monday.

RTTNews | 3h 34min ago

Australian Markets Slightly Higher

The Australian stock market is slightly higher in choppy trading on Monday, snapping a four-session losing streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,750.00 level, with gains in energy, financial and technology stocks.

RTTNews | 3h 42min ago

China Stock Market May Reclaim 3,900-Point Level

The China stock market has finished lower in back-to-back sessions, contracting more than 60 points or 1.5 percent in that span. The Shanghai Composite Index now sits just beneath the 3,890-point plateau although it's likely to open to the upside on Monday.

RTTNews | 3h 49min ago

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