Pre Session: Markets may open lower amid weak Asian cues
25/06/2018
The Indian benchmark indices are set to open lower on Monday amid weak cues from other Asian peers.
The Asian markets have opened on a lower note amid lingering concerns about escalating trade frictions, while Wall Street closed higher in the previous trading session with a boost from energy stocks, but losses in the technology space kept gains in check.
On the economy front, the markets may react to a report that India's foreign exchange reserves declined by USD 3.039 billion to USD 410.070 billion in the week to June 15, due to fall in foreign currency assets. Also, foreign investors have pulled out over Rs 14,500 crore from the Indian capital markets this month so far, primarily due to global trade war and hawkish commentary by the US Federal Reserve.
Also, heads of 11-state-owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases on Tuesday.
On the IPO front, Railways consultancy firm RITES initial public offer garnered strong investor demand, with the issue getting subscribed more than 67 times on the last day of bidding on Friday. Also, Chemical manufacturer Fine Organic Industries initial public offer was subscribed nearly 9 times on the last day of bidding on Friday.
Muted trends in the SGX Nifty Index Futures for June delivery, which were trading at 10,802, down by 53 point.
25/06/2018
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The Indian benchmark indices are set to open lower on Monday amid weak cues from other Asian peers.
The Asian markets have opened on a lower note amid lingering concerns about escalating trade frictions, while Wall Street closed higher in the previous trading session with a boost from energy stocks, but losses in the technology space kept gains in check.
On the economy front, the markets may react to a report that India's foreign exchange reserves declined by USD 3.039 billion to USD 410.070 billion in the week to June 15, due to fall in foreign currency assets. Also, foreign investors have pulled out over Rs 14,500 crore from the Indian capital markets this month so far, primarily due to global trade war and hawkish commentary by the US Federal Reserve.
Also, heads of 11-state-owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases on Tuesday.
On the IPO front, Railways consultancy firm RITES initial public offer garnered strong investor demand, with the issue getting subscribed more than 67 times on the last day of bidding on Friday. Also, Chemical manufacturer Fine Organic Industries initial public offer was subscribed nearly 9 times on the last day of bidding on Friday.
Muted trends in the SGX Nifty Index Futures for June delivery, which were trading at 10,802, down by 53 point.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
