Nifty Seen Opening Lower; Rolex Rings Shares To Make Debut Today
The Indian equity benchmarks are set to open marginally lower as indicated by the Nifty futures traded on Singapore Exchange amid weak trend in other Asian markets. The Nifty futures on Singapore Exchange fell 0.13 per cent or 17 points to 16,252. Asian shares wobbled on Monday amid sharp losses in gold and oil prices, while the dollar reached four-month highs on the euro after an upbeat U.S. jobs report lifted bond yields.
Sentiment was shaken by a sudden dive in gold as a break of $1,750 triggered stop loss sales to take it as low as $1,684 an ounce. It was last down 1.4 per cent at $1,738. Holidays in Tokyo and Singapore made for thin trading conditions, leaving MSCI's broadest index of Asia-Pacific shares outside Japan down 0.5 per cent.
Japan's Nikkei was shut but futures were trading 100 points below Friday's close. Nasdaq futures slipped 0.4 per cent and S&P 500 futures 0.3 per cent.
Back home, foreign institutional investors sold shares worth Rs 69 crore and domestic institutional investors sold shares worth Rs 631 crore on Friday.
Rolex Rings shares will make stock market debut at 10:00 am today. The Rolex Rings initial public offering was subscribed 130.4 times.
Bank of Baroda will be in focus after it reported net profit of Rs 1,280.6 crore in the first quarter ended March 2021 against a loss of Rs 864.3 crore in the same quarter last year. Net interest income rose from Rs 6,816.1 crore to Rs 7,891.9 crore on a YoY basis.
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