Indian Shares Likely To Open On Subdued Note

(RTTNews) - Mixed Asian markets and the overnight weak close on Wall Street are pointing to a somewhat subdued start in the Indian stock market, where trading resumes Tuesday morning after an extended weekend.

With a slew of crucial U.S. economic data due this week, the mood in the market is likely to remain cautious, and activity may well be stock specific with investors tracking corporate news, if any.

SAIL will be in focus as the state-run steel producer seeks to increase the provisional price of rails to the Indian Railways, citing higher costs.

Eicher Motors Limited has launched a new Himalayan bike, priced at Rs 2.69 lakh onwards.

Newgen Software Technologies Limited has announced that its board has approved the proposal to issue bonus shares in the ratio of 1:1. The company has set the record date as Friday, 12 January 2024 for the purpose.

Maruti Suzuki has announced that it plans to increase the prices of its cars across models in January 2024 due to increased cost pressure driven by overall inflation and increased commodity prices.

On the economic front, S&P Global Ratings has hiked India's GDP growth rate forecast for 2023-24 to 6.4% from 6% earlier. However, it has slashed the GDP growth projection for financial year 2024-25 by 50 basis points to 6.4%.

India's Q2 GDP data and the infrastructure output data for October will be released on Thursday while the manufacturing PMI numbers will be out on Friday.

Indian shares ended slightly lower on Friday due to muted cues from global markets. The benchmark S&P/BSE Sensex swung between gains and losses before ending the session down 47.77 points, or 0.07%, at 65,970.04. The broader NSE Nifty index settled 7.30 points, or 0.04%, lower at 19,794.70.

Indian markets remained closed on Monday on account of Guru Nanak Jayanti.