Indian Shares Likely To Open On Weak Note
(RTTNews) - Lower SGX Nifty points to a negative start for Indian shares on Monday. Weakness in Asian markets amid the growing unrest in China over the unprecedented COVID restrictions and the zero-Covid policy is likely to weigh.
In company news, Hero Motocorp has announced that it will increase the prices of its motorcycles and scooters by up by to Rs 1,500 with effect from December 1.
Indian Oil Corporation announced it has raised Rs 2,500 crore by issuing 25,000 non-convertible debentures of Rs 10 lakh each on private placement basis. The company plans to utilise the funds for refinancing existing borrowing or funding capital expenditure.
The Indian market ended flat on Friday after swinging between gains and losses as concerns over record-high domestic daily COVID-19 cases in China offset investor optimism over a less hawkish Fed.
The benchmark S&P BSE Sensex ended the session up 20.96 points, or 0.03 percent, at 62,293.64, closing at a record high for a second straight session. The broader NSE Nifty index settled at a record closing high of 18,512.75, up 28.65 points, or 0.15 percent, from its previous close.
U.S. stocks ended mixed on Friday after a lackluster session. Despite the choppy trading, the Dow ended the session at a new seven-month closing high.
While the Dow climbed 152.97 points or 0.5 percent to 34,347.03, the S&P 500 edged down 1.14 points or less than a tenth of a percent to 4,026.12 and the Nasdaq slid 58.36 points or 0.5 percent to 11,226.36.
European stocks too closed on a mixed note on Friday with investors looking for direction and staying largely cautious.
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