Tracking firm cues from Asian peers, the Indian benchmarks are likely to open higher on Monday as investors sentiment picked up with the government changed stance on MAT. Government’s decision to refer the contentious MAT issue -that has kept investors on tenterhooks for the last few sessions- to a high-level committee headed by Justice AP Shah has revived risk-appetite and has brought about a relief-rally of sorts. However, foreign institutional investors (FIIs) continued to remain net seller in Indian equities with another Rs 4000 crore of selling by them last week. The positive opening of Nifty India stock futures in Singapore further validates the positive opening for the Indian equities. On the corporate front, investors will keep an eye on the corporate earnings of Union Bank, Uco Bank, Syndicate Bank BSE, Dr. Reddy Laboratories, Lupin, Oriental Bank, JSW Steel, Bank Baroda, Adani Power, which are dues this week.
