The BSE Sensex and NSE Nifty may open lower on Monday tracking SGX Nifty amid weak global cues. On Friday, BSE Sensex ended 53.66 points down at 27,782.25, while Nifty index closed 19.65 points down at 8572.55 following selling in selected IT capital goods, realty, banks and healthcare stocks.
Below are the 5 things you should know before stock markets open on Monday
1. At 7.51 am, SGX Nifty, which is an indicator of how domestic markets will open, was trading 30.50 points down at 8,596.50.
2. Stock markets will react to US Federal Reserve chair Janet Yellen’s statement that the case for raising US interest rates has strengthened in recent months, however, she said it will be gradual and didn’t give a timeline for it. Wall Street slipped after her reamrsk with the Dow Jones industrial average falling 79.58 points, or 0.43 per cent, to 18,368.83, the S&P 500 losing 7.4 points, or 0.34 per cent, to 2,165.07 and the Nasdaq Composite dropping 10.47 points, or 0.2 per cent, to 5,201.73. The markets have been on tenterhooks all of this week in the run-up to Yellen’s speech.
3. For the week ended August 26, Sensex fell by 294.75 points or 1.04 per cent and the NSE Nifty slipped 94.35 points or 1.08 per cent. According to Ace Equity data, foreign Institutional Investors (FIIs) stood net buyers in equity segment in the week with gross purchases of Rs 20,154.42 crore and gross sales of Rs 20,055.66 crore, leading to a net inflow of Rs 98.76 crore. However, they stood as net sellers in the debt segment with gross purchases of Rs 7,214.12 crore against gross sales of Rs 7,939.51 crore, resulting in a net outflow of Rs 725.39 crore.
4. Stocks of GMR Infrastructure Limited will be in focus as its subsidiary GMR Airports Limited (GAL) has won the international competitive bid for development and operation of the Mopa greenfield airport in North Goa.
5. Stocks of Tata Motors will also hog limelight after it reported a 57.25 per cent YoY fall in consolidated profit after tax (PAT) to Rs 2,236 crore for the June quarter, even as it reported exceptional gains of Rs 478 crore on account of recoveries pertaining to Tianjin port incident.