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Pre-market update: Indian equity benchmarks are likely to open higher on Monday, buoyed by firm cues from GIFT Nifty futures. At 7:44 am, GIFT Nifty futures were trading 107 points up at 24,796, signalling a positive start to the week’s first session.

The Reserve Bank of India’s six-member Monetary Policy Committee (MPC) begins its three-day meeting today. According to a Business Standard poll, the MPC is expected to maintain the status quo on key interest rates. Traders will keenly watch RBI’s commentary for cues on inflation and liquidity.

Globally, investors await money supply data from the UK, economic sentiment from the Euro Area, and BoJ’s JGB purchases in Japan. The Reserve Bank of Australia also kicks off its two-day policy meet today.

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Asian markets traded mixed on Monday morning. Australia’s S&P/ASX 200 gained 0.43 per cent and South Korea’s Kospi added 1.05 per cent, while Japan’s Nikkei 225 slipped 0.68 per cent.

On Friday, the BSE Sensex closed 733 points or 0.90 per cent lower at 80,426, while the NSE Nifty50 slipped 236 points or 0.95 per cent to 24,654. For the week, Sensex lost 2,199.77 points (2.66 per cent) and Nifty shed 672.35 points (2.65 per cent).

On Wall Street, major indices ended higher on Friday, September 26, after largely in-line US inflation data. The Dow gained 0.65 per cent, S&P 500 rose 0.59 per cent and the Nasdaq advanced 0.44 per cent.

Foreign Institutional Investors (FIIs) net sold shares worth ₹5,564.75 crore, while Domestic Institutional Investors (DIIs) net bought ₹5,599.84 crore on Friday.

The mainboard IPO space will be busy today with three new launches — Glottis IPO, Fabtech Technologies IPO and Om Freight Forwarders IPO. Basis of allotment for Jain Resource Recycling IPO, BMW Ventures IPO and Epack Prefab Technologies IPO is likely to be finalised, while Ganesh Consumer Products and Atlanta Electricals make their D-Street debut.

Pace Digitek IPO enters the second day of subscription; Jinkushal Industries IPO and Trualt Bioenergy IPO move into the final day. The SME segment also remains abuzz with as many as six new launches including Chiraharit, Dhillon Freight Carrier, Suba Hotels, Om Metallogic, Vijaypd Ceutical and Sodhani Capital.

Oil prices edged lower in early trade. Brent crude fell 0.94 per cent to $69.47 a barrel, while US WTI slipped 1 per cent to $65.08 a barrel.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.