Indian shares are likely to open lower, tracking weak Asian and global cues and are expected to trade rangebound. Indian markets are expected to trade in a range on Monday tracking muted trend seen in other Asian markets and SGX Nifty.
Asian shares got off on the back foot, as crude extended gains and tested nine-month highs on fears the insurgency in Iraq could worsen and affect oil exports.
Asian shares got off on the back foot, as crude extended gains and tested nine-month highs on fears the insurgency in Iraq could worsen and affect oil exports.
Foreign institutional investors bought Indian shares worth 10.92 billion rupees ($182.91 million) on Friday, provisional exchange data showed.
State-run oil marketing companies will be in focus after crude oil prices rose to new nine-month highs on Friday as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.
Traders will also watch out for India's wholesale inflation data for May, which they expect would not give any negative surprise after a positive retail inflation and factory output data.
State-run oil marketing companies will be in focus after crude oil prices rose to new nine-month highs on Friday as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.
Traders will also watch out for India's wholesale inflation data for May, which they expect would not give any negative surprise after a positive retail inflation and factory output data.
Stocks Likely To be Focus Today:
•Hero MotoCorp Ltd
•United Spirits Ltd
•Central Bank of India
•Bharti Infratel Ltd
•MCX Ltd
•Hero MotoCorp Ltd
•United Spirits Ltd
•Central Bank of India
•Bharti Infratel Ltd
•MCX Ltd
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