India equity benchmarks to open flat; Coforge in focus
India's equity benchmarks are likely to open little changed on Monday on caution over foreign fund outflows and thin year-end trading volumes, while investors focus on fresh developments over negotiations to end the war in Ukraine.
The Gift Nifty futures were trading at 26,085.5 points, as of 8:02 a.m. IST, indicating that the benchmark Nifty 50 would open near Friday's close of 26,042.3.
U.S. President Donald Trump said on Sunday that he and Ukrainian President Volodymyr Zelenskiy were getting close to an agreement to end the war in Ukraine, while acknowledging that the fate of the disputed Donbas region remains a key unresolved issue.
A potential resolution to the Russia-Ukraine war could be positive for Indian equities. The U.S. has imposed 50% tariffs on Indian imports, among the highest for its trading partner, half of which are due to India's purchases of Russian oil.
Meanwhile, foreign portfolio investors sold Indian shares worth 3.18 billion rupees ($35.43 million) on Friday, as per provisional data. They have offloaded Indian shares worth $1.64 billion so far in December and $18.03 billion in 2025.
Cash market turnover on Friday fell for a fourth consecutive session, while trading volumes across the globe usually remain thin during the end of year due to Christmas and New Year holidays.
STOCKS TO WATCH
** IT services provider Coforge to acquire artificial intelligence firm Encora at an enterprise value of $2.35 billion to boost in-house AI capabilities and expand presence in the U.S. and Latin America
** Vedanta declared successful bidder for Depo Graphite - Vanadium Block under Critical Mineral Auctions
Tranche IV by the Indian government
** Times Group India promoter Timex Group Luxury Watches B V to sell up to 4.47% stake in the company via offer for sale at a floor price of 275 rupees per share, with an option to sell another 4.47%
($1 = 89.7660 Indian rupees)
