BSE Sensex, NSE Nifty might open on a plaintive note amid losses on Wall Street and worries over China, while investors braced for a Federal Reserve meeting that might take another small step toward lifting US interest rates.
Other factors that are likely to affect market this week would be quarterly earnings of ITC, Maruti Suzuki and ICICI Bank. Experts are expecting these numbers to keep market volatile this week. Besides, Parliament’s proceedings would also be keenly watched for the fate of key reforms bills including GST.
NTPC and L&T are among other blue-chips to report earnings this week.
Last week, the benchmark BSE Sensex ended at 28,112.31, down 351 points.
Japan’s Nikkei slipped 0.5 percent, while MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.8 percent.
In China, the CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen fell 1 percent, with sentiment still soured by a poor PMI survey on manufacturing.
Australia’s main index fell 0.2 percent as mining stocks struggled with the slump in global commodity prices.
Taiwan stocks fell on Monday, in line with regional markets and Wall Street, ahead of a Federal Reserve rate meeting later this week.
Wall Street has been weighed in part by concerns that a high US dollar and sluggish global demand was pressuring corporate profits, a theme that should wend its way through this week’s busy diary of earnings.
(With inputs from Agencies)