Indian stock benchmarks are expected to open higher, as evidenced by Nifty Futures traded on the Singapore Exchange. Nifty futures on Singapore Exchange, also known as SGX Nifty futures, rose 39 points to 17,397 amid positive signals from other Asian markets. Asian stocks rose higher on Monday after a disappointing US salary report promised to keep policy super-easy there for longer, but also clouded the outlook for global growth and inflation.
A vacation in the United States provided lean conditions, keeping MSCI’s broadest index of Asia-Pacific stocks outside of Japan at a small gain of 0.2 percent, although that was the highest since late July.
Japan’s Nikkei added 1.7 percent, extending a rally in hopes a new prime minister would bring additional fiscal stimulus there.
Chinese blue chips gained 1.3 percent amid speculation Beijing would also boost through fiscal and monetary policy.
Nasdaq futures barely changed, while S&P 500 futures fell 0.1 percent. EUROSTOXX 50 futures and FTSE futures were little moved.
At home, foreign institutional investors bought shares worth Rs 768.58 crore on Friday, while domestic institutional investors bought shares worth Rs 69 crore.
Reliance Industries will come into the picture after the company said its subsidiary Reliance Strategic Business Ventures has acquired 2,28,42,654 shares of Rs 10 each of Strand Life Sciences Private Limited for a cash consideration of Rs 393 crore.
Ashoka Buildcon will be in focus after receiving an order from Adani Road Transport Limited related to the execution of Engineering, Procurement & Construction (EPC) based civil and related works of six lanes of NH-19 from Pangarh to Palsit from km. 521,120 to km. 588,870 (total design length 67,750 km) in West Bengal.