The Indian equity benchmarks are set to stage a gap up opening on Monday with Nifty 50 index seen opening above 18,200 as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty 50 futures on Singapore Exchange also known as the SGX Nifty futures rose 0.5 per cent to 18,220 amid positive cues from other Asian markets. Asian shares edged higher on Monday as Chinese economic data surprised on the high side, challenging wagers the economy was stuck in a downturn although a decline in mainland house prices was a worry.
Chinese blue chips were steady on the data, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, after popping higher late last week.
Japan’s Nikkei gained 0.5 per cent as data showing economic activity shrank by more than expected in the third quarter only reinforced the case for aggressive fiscal stimulus.
Wall Street eased last week to break a string of gains, though the major indices were only a shade off all-time highs. S&P 500 futures firmed 0.1 per cent in early trade on Monday, while Nasdaq futures added 0.2 per cent.
Back home, foreign institutional investors bought shares worth Rs 511 crore on Friday and domestic institutional investors bought stocks worth Rs 851 crore.
Sigachi Industries will list its shares on stock exchanges at 10:00 am today. The company sold shares in the price band of Rs 161-163 in the initial public offering (IPO) which was ended November 3 and the issue was subscribed 102 times.
SJS Enterprises and PB Fintech Limited (Policy Bazaar) will make their market debuts at 10:00 am today. SJS Enterprises sold its shares in IPO in band of Rs 531-542 per share and the issue was subscribed 1.59 times and PB Fintech sold its shares in price band of Rs 940-980 per share and issue was subscribed 16.58 times.