IGI Logo

Indian shares are likely to open little changed on Monday, in line with Asian peers and ahead of key central bank policy decisions due this week.

The GIFT Nifty was trading at 22,071 as of 08:11 a.m. IST, indicating the Nifty 50 will open near Friday's close of 22,023.35.

Asian markets were off to a muted start with the MSCI Asia ex-Japan index adding 0.02%. Wall Street equities closed lower on Friday, after hotter-than-expected U.S. inflation data added to worries of delay in Federal Reserve rate cuts. [MKTS/GLOB]

Investors await policy decisions and commentary from Japan's central bank as well as the Fed, due later in the week, as they look for clues into the future global interest rate trajectory.

India's benchmark indexes logged weekly losses on Friday. Small- and mid-caps underperformed, posting their worst week in 15 months, after the markets regulator flagged concerns of froth in the segments and as stress test results indicated disparity in the durations that mutual funds would take to liquidate their portfolios.

"For several months now, there has been concern over the inflated valuations in these categories, caused by the irrational optimism of individual investors. However, it took the markets regulator's forceful message to bring about a correction," Pravesh Gour, senior analyst at Swastika Investmart, said.

Foreign portfolio investors bought Indian shares worth 8.49 billion rupees (about $102 million) on a net basis on Friday. Domestic institutional investors sold a net 6.82 billion rupees of stocks.

STOCKS TO WATCH

** JSW Energy: Company's unit bagged an additional 500 Megawatt wind project from Solar Energy Corporation of India.

** Ircon International: Company secured letter of award for construction project worth 6.30 billion rupees.

** Rail Vikas Nigam: Company received a letter of acceptance worth 3.39 billion rupees.