Pre-market: Domestic cues to decide direction

Govt likely to announce measures to strengthen Rs

Domestic cues are likely to take centre-stage today with the government likely to announce policy measures to strengthen the rupee in consultation with the RBI.

Reports suggest that the measures may include the issuance of bonds for non-resident Indians and a revised interest rate ceiling on FCNR (B) deposits.

The F&O expiry due Thursday is also likely to impact the sentiment.

Asian shares mostly slipped on Monday as concerns about faltering global growth. MSCI's broadest index of Asia Pacific shares outside Japan fell 0.4%, with South Korean shares losing more than one%. Tokyo's Nikkei share average bucked the trend to rise 0.2%.

At 815 am Indian Standard Time, the SGX Nifty was trading at 5,138 levels – down 0.4%.

Among individual stocks, Suzlon could be in focus on reports tthat it has sold its Chinese manufacturing subsidiary for Rs 340 crore.

ONGC could also be in focus on reports that it is mulling listing its overseas investment arm, ONGC Videsh, to raise funds for aggressive foreign acquisitions.

Lenders to the ailing Kingfisher Airlines are to review the status of its account this week, after the company announced losses in excess of Rs 1,000 crore in the financial year’s fourth quarter ended March.

Essar Oil has informed the Gujarat High Court it was operating under a working capital crunch, adding it did not have enough funds to pay its sales tax deferral liability to the state government.

CIL has hiked the prices by an average 10-15% for non-coking coal mined from selected blocks in Western Coalfields.