It is a news-heavy week for the markets as they react to the global developments such as the outcome of the Greece elections, the upcoming FOMC meet and the G-20 summit.
On the domestic front, they will align themselves to the announcements from the Reserve Bank of India in its review of the Monetary Policy later in the day, and the outlook for interest rates going ahead.
The outcome of the Greek election sparked a rally in risk assets in Asia, early on Monday, as investors were cheered by the victory of pro-bailout New Democracy party, pushing up both currencies and stocks.
Japan's Nikkei gained 2.2 per cent, Australia's S&P ASX 200 rose 0.4 per cent and Korea's Kospi was 2 per cent higher. At 815 am Indian Standard Time, the SGX Nifty was trading at 5,182 – up 0.8 per cent.
Among individual stocks, keep a tab on rate sensitives – banks, auto and realty stocks – as they react to the RBI’s review of the Monetary Policy today.
The government has initiated the process of 10 per cent stake sale in Nalco, which may fetch the exchequer an estimated Rs 12,000 crore, reports suggest.
Shareholders of Sesa Goa and Sterlite Industries will meet this week for approving the proposed merger of the two companies.
Shriram Transport is planning to raise around Rs 2,000 crore via secured/unsecured non-convertible debentures (NCDs).
L&T could also see some pressure in trade today on a Morgan Stanley report that suggests the stock price would fall in absolute terms over the next 60 days.
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