Indian stocks will begin the shortened week-long holiday on a cautious note as investors digest economic data from China and look ahead to this week’s Federal Reserve policy meeting.
The GIFT Nifty on India’s NSE International Exchange was up 0.1% at 20,186.5 by 0755 IST.
Asian shares fell on Monday as China’s main property sector remained under pressure despite positive data showing signs of stabilization.
At the same time, the market is betting that the Federal Reserve will keep interest rates unchanged on September 19 and 20, and investors will look for clues about the outlook for the central bank’s monetary policy.
On the domestic front, the Nifty 50 index and the Sensex index both gained nearly 2% last week and are expected to continue their strong trend.
Analysts said small and mid-cap stocks, which are more focused on China, have been volatile after hitting record highs due to concerns about overvaluation.
Separately, foreign investors bought a net 1.64 billion rupees ($19.74 million) worth of shares on Friday, while domestic investors bought shares worth 1,939 billion rupees, according to stock exchange data.
Stocks to Watch
Bharat Electronics:Bharat Electronics received orders worth Rs. 30000000000.
axis bank: Chirag Negandhi, co-chief executive of investment banking unit, resigns
HFCL Ltd.: HFCL received orders worth Rs. 10.15 billion.
Tata Steel: Agreement reached with the UK Government on investment in the UK steel industry.
Dhan Lakshmi Bank: Independent director Sridhar Kalyanasundaram resigned from the board.
(1 USD = 83.0990 Indian Rupees)
