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Markets are likely to open on a lower note tracking weakness in the Asian markets. In addition, investors will remain cautious ahead of the RBI monetary policy scheduled tomorrow.
The Reserve Bank of India's (RBI) monetary policy review on Tuesday would set the tone for the stock market in a holiday-shortened week ahead.
Stock markets will remain closed on Thursday and Friday for Mahatma Gandhi Jayanthi and Dussehra respectively.
Market participants will be looking at the outcome of the apex bank's monetary policy meet on September 30 and HSBC India Manufacturing PMI for September, due on October 1. Further, shares of automobile companies will be in focus amid release of sales data for September on Wednesday.
Global Markets:
The dollar hit a four-year peak against a basket of currencies in early Asian trade on Monday, bolstering Japanese shares, but other Asian shares shrugged off Friday's Wall Street rebound in the face of political unrest in Hong Kong.
The U.S. Commerce Department on Friday raised its estimate of gross domestic product growth to an annualized 4.6 percent, the fastest pace in 2-1/2 years, and accelerating from the 4.2 percent reported last month.
Japan's Nikkei average is up 0.4 percent after U.S. shares bounced on Friday from sell-off the day before, with the yen's weakness flattering the export sector and Shanghai Composite has gained 0.1%. However, Hang Seng has lost more than 2% on the back of increasing civil unrest in Hong Kong.
Central Hong Kong descended into chaos on Sunday as pro-democracy protesters converged on barricades as hundreds of police cordoned off streets and walkways and tensions flared amid the arrest of several lawmakers. Police used tear gas to disperse demonstrators.
Further, the early indicator, SGX Nifty is trading lower by 27 points at 7,996 levels.
Further, the early indicator, SGX Nifty is trading lower by 27 points at 7,996 levels.
Stocks to watch:
Financial Technologies (India) said in a statement to the BSE that it has entered into a supplementary agreement (master amendment to the principal agreements) for providing software support and managed services to the Multi Commodity Exchange (MCX) valid until 2022. The agreement, however, is renewable as may be mutually agreed between the parties.
National Aluminium Company (Nalco), the navratna public sector undertaking under ministry of mines, plans to set up a 100 Mw wind power project with an investment of Rs 660 crore.
Global commercial vehicle major Daimler is looking to replicate the success of its trucks business in India in the bus segment as well with its new bus plant in the country slated to be operational by second half of next year.
L&T Finance, a subsidiary of L&T Finance Holdings, is targeting a fivefold increase in its microfinance loan portfolio in the next 24-30 months. The company had scaled down this business following the crisis in Andhra Pradesh’s microfinance sector in October, 2010.
Ruchi Soya Industries, the largest edible oil refiner in the country, is planning to cut edible oil prices by 10 per cent by Diwali, as prices have started to cool off in the global markets.
Loss-making state-owned telecom service providers, Bharat Sanchar Nigam (BSNL) and MTNL are likely to gain focus after telecom minister Ravi Shankar Prasad said that these two companies will not be will not be privatised; instead they will be turned around.
Loss-making state-owned telecom service providers, Bharat Sanchar Nigam (BSNL) and MTNL are likely to gain focus after telecom minister Ravi Shankar Prasad said that these two companies will not be will not be privatised; instead they will be turned around.
