Indian shares may open on a subdued note Monday morning, tracking a slightly weak close on Wall Street on Friday, and mixed Asian stocks. GIFT Nifty futures were up slightly a little while ago.
Investors will be reacting to some corporate news.
Punjab National Bank shares will be in focus after the bank reported a fraud of over Rs 2,000 to the RBI. The case involves the loan accounts of SREI Equipment Finance (Rs 1,241 crore) and SREI Infrastructure Finance (Rs 1,193 crore). The bank has fully provisioned for these outstanding accounts, as disclosed in its stock exchange filing.
NBCC will be in focus. The state-run company said on Friday that it will receive a 21.23-acre land parcel in south Delhi as its share following the settlement of a dispute with the Delhi government, and will develop a mixed-use real estate project on this site with an estimated revenue of about Rs 8,500 crore.
Coforge has opened a new tab 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.
On the economic front, data on industrial production and manufacturing sector output for the month of November will be out after trading hours today.
On Friday, Indian shares ended lower despite firm cues from global markets. Losses in financials, auto, IT, and select pharma stocks weighed on the headline indexes.
The benchmark BSE Sensex dropped 367.25 points, or 0.43%, to 85,041.45 as trading resumed after a holiday on Thursday for Christmas. The broader NSE Nifty index fell 99.80 points, or 0.38%, to 26,042.30.
On Wall Street, stocks showed a lack of direction during the trading session on Friday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing slightly lower.
The S&P 500 reached a new record intraday high in early trading before closing down 2.11 points or less than a tenth of a percent at 6,929.94. The Dow also edged down 20.19 points or less than a tenth of a percent to 48,710.97, while the Nasdaq slipped 20.21 points or 0.1% to 23,593.10.
Market Analysis
Indian Shares Seen Opening On Subdued Note
2025-12-29 02:51:08
