Indian shares are likely to witness a weak opening as the global markets look unsupportive with SGX Nifty trading 47 points lower
Benchmark indices are seen subdued today as sentiment took a hit after US President Donald Trump's order temporarily halting immigration from seven predominantly Muslim countries, and as index major Larsen and Toubro cut its sales growth and order inflow guidance for the current financial year.
Indian shares rose for a fourth consecutive session on Friday to post their biggest weekly gain in eight months, helped by a rally in financial firms and optimism ahead of the annual federal budget next week. The S&P BSE Sensex and CNX Nifty rose 0.63%-0.45% each
For the week, the Sensex jumped 847.96 points or 3.13% to settle at 27,882.46. The Nifty surged 291.90 points or 3.49% to settle at 8,641.25.
Asian share markets and U.S. stock futures fell on Monday after President Donald Trump introduced immigration curbs that sparked criticism at home and abroad, adding to fears that his 'America First' policy may prove destabilizing for the rest of the world.
Japan's Nikkei 225 index was down as the dollar weakened against major currencies after Trump's order temporarily halting immigration from seven Muslim-majority countries. Markets in China, South Korea, Hong Kong, Taiwan and Singapore are closed for Lunar New Year.
Key US indices ended mixed on Friday, with the Dow Jones Industrial Average index and S&P 500 index closing marginally lower, as initial Oct-Dec gross domestic product data fell short of expectations.
Major Headlines of the day:
Maruti increases vehicle prices ranging from Rs1,500 to Rs8,014
IOC’s Paradip refinery faces withdrawal of sales tax deferment
Larsen & Toubro bags Rs1,286 crore order for construction jobs
Trend in FII flows: The FIIs were net buyers of Rs 211.77 the cash segment on Friday while the DIIs were net sellers of Rs 482.5 as per the provisional figures.
UPCOMING RESULTS: GRANULES, THYROCARE, ZYDUSWELL, KITEX, TECHM, BAJFINSV, INFOEDGE, VGUARD, SHREECEM, DALMIA SUGAR.BAJFINANCE, DISHTV, GRASIM, HDFC, MONSANTO.