Indian equity indices gained for seven straight weeks, their longest such run since April 2019.
But as the benchmarks enter a week curtailed by the Christmas holiday, futures are indicating a negative bias at the opening of the trade. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.4% to 13,730 as of 7:55 a.m. on Monday.
Several companies, including Reliance Industries Ltd., will be in focus today. Colgate-Palmolive (India) Ltd. and Godrej Consumer Products Ltd. may react to their analyst day commentary. The Rs 300-crore initial public offering of Antony Waste Handling Cell will also open for subscription.
Steel Authority of India Ltd. has entered the F&O ban, along with Canara Bank, Punjab National Bank and Sun TV.
Globally, Asian markets are trading with losses this morning with benchmarks in Japan and Australia drifting lower. Futures on the Dow Jones are little changed. The index fell 0.4% on Friday.
West Texas Intermediate crude fell 2.6% to $47.81 per barrel, while gold was up 1% to $1,897.67/Oz.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.