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Indian equities are set for a cautious start on Monday as traders digest mixed economic data and global signals. Around 7:10 a.m., GIFT Nifty futures were quoting 43 points lower at 25,162, hinting at a negative opening for the Sensex and Nifty.

Domestic cues will centre on fresh inflation readings. India’s retail inflation (CPI) rose to 2.07 per cent in August from July’s eight-year low of 1.61 per cent, driven by a low base and easing food deflation, NSO data showed on Friday. Rural inflation came in at 1.69 per cent and urban at 2.47 per cent. Economists noted that recent GST rate cuts could trim CPI by up to 90 basis points this fiscal, though weak GDP growth and sluggish tax receipts remain a concern for government finances. August wholesale price index (WPI) inflation data is also due.

Across Asia, markets traded mixed as investors tracked US–China talks in Spain and awaited key Chinese economic releases on retail sales, fixed asset investment and unemployment. The Nikkei was up 0.8 per cent and the Topix 0.4 per cent, while Australia’s ASX200 slipped 0.25 per cent and South Korea’s Kospi edged up 0.16 per cent. Japanese and Malaysian markets are shut for a holiday.

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US equity futures were flat in early Asian trade ahead of the Federal Reserve’s policy meeting this week, where investors are betting on a rate cut when the two-day gathering ends Wednesday. On Wall Street Friday, the Nasdaq Composite logged a second straight weekly gain, while the S&P 500 posted its best week since early August and the Dow snapped a two-week losing streak.

In the primary market, Vashishtha Luxury Fashion IPO (SME) lists today, TechD Cybersecurity IPO (SME) opens for subscription, Airfloa Rail Technology IPO (mainline) enters its last day, and L.T. Elevator IPO (SME) moves to Day 3.

Gold hovered near record highs at $3,648.55 per ounce in Asian trade, extending a four-week rally on Fed-cut bets, while Brent crude edged up 0.93 per cent to $66.99 a barrel and WTI gained 0.51 per cent to $62.69 after a Ukrainian drone strike disrupted loadings at a key Russian port.

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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.