 "Nifty may open below 7,650 as global stocks lose sheen")
Markets are likely to remain cautious following losses in the global peers after the mixed US jobs data failed to give clarity as to when US Fed may hike the interest rate.
After witnessing huge losses recently, stock markets would take cues from IIP data slated to release later in the week, movement of rupee and crude oil and overseas investors' investment trend are likely to dictate the trend on the bourses. From the global front, investors are eyeing monetary policy action by the Federal Reserve.
On a weekly basis, the Sensex lost 1,190.48 points or 4.51% and Nifty fell 346.90 points or 4.33%. This is the fourth straight weekly plunge for both the indices.
STOCKS TO WATCH
The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 31.50% of the paid up capital of M/s Natco Pharma under the Portfolio Investment Scheme (PIS).
Pharma major, Dr Reddy 's Lab has decides to recall over 55,000 bottles of Amlodipine besylate and Atorvastatin calcium tablets, used to treat high blood pressure and cholesterol related diseases, in the US market.
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ONGC Videsh, the overseas arm of India's biggest explorer, will buy a 15% stake in the Vankor oil field of Russian state firm Rosneft for about $1.35 billion (Rs 8,910 crore).
The Reserve Bank removed IndusInd Bank from its caution list, allowing foreign investors to buy further shares in the lender.
Maruti Suzuki plans to take approval from minority shareholders on allowing parent Suzuki Motor Corporation to own and invest in the upcoming Gujarat plant.
Rajesh Exports secured an export order worth Rs 1,123 crore from Singapore for gold and diamond studded jewellery.
Vijaya Bank is likely to remain in focus after the bank announced that it has reduced its base rate by 0.15% to 9.85%.
GLOBAL MARKET
Asian equity markets are trading lower taking cues from Wall Street's glide after the US jobs data. Meanwhile, the traders will nervously await the restart of Chinese financial markets after the long weekend.
Nikkei, Hang Seng and Straits Times are trading lower between 0.5-1%. However, China’s Shanghai Composite is trading flat with a positive bias.
US stoks dropped more than 1% on Friday after a mixed August jobs report failed to give a clear view on the Federal Reserve's interest rate hike. Nonfarm payrolls increased 173,000 last month but the unemployment rate dropped to 5.1 percent, its lowest in more than seven years, and wages accelerated.