IGI Logo

 Indian shares are set to open marginally higher on Monday, on hopes of a U.S. Federal Reserve rate pause later this month and strong domestic macroeconomic data.

India's GIFT Nifty on the NSE International Exchange was up 0.13% at 19,572.50 at 8:11 a.m. IST.

Wall Street equities were mixed on Friday after a U.S. jobs report showed a rise in unemployment, which bolstered expectations of a pause in rate hikes by the Fed in its policy decision later this month. Asian stocks edged higher on Monday. [MKTS/GLOB]

Indian shares posted a weekly gain on Friday, snapping a five-week losing streak, on strong gross domestic product (GDP) data for the June quarter and expansion in factory activity in August.

Foreign institutional investors bought shares worth 4.88 billion rupees on a net basis on Friday, while domestic institutional investors bought shares worth 22.95 billion rupees ($277.66 million), according to stock exchange data.

STOCKS TO WATCH:

** Kotak Mahindra Bank billionaire Uday Kotak has resigned as the managing director and chief executive four months before his term was set to end

** Hero Motocorp: Two-wheeler maker dispatches 489,000 units in August; domestic sales up 4.9% YoY

** IDFC First Bank: GQG Partners Emerging Markets Equity Fund, GQG Partners International Opportunities Fund bought 2.6% stake worth 15.27 billion rupees in the lender, through block deals

** Biocon: Unit buys Eywa Pharma's oral solid dosage manufacturing facility in New Jersey for $7.7 million

($1 = 82.6540 Indian rupees)