Indian shares set to buck Asian trends, SGX Nifty opens stable
By Vinu Lal
02:54, 15 September 2021
Indian benchmark indices look to open trading in the green even as other Asian markets including Taiwan, Japan, Korea and Hong Kong are trading with losses on Wednesday morning.
SGX Nifty futures, representing Indian equities, trading on the Singapore Stock Exchange opened stable with 0.09% up in the morning before markets in India opened.
Asian stocks seem to copy Wall Street sentiments with American indices losing ground on Tuesday’s close as economic uncertainty and the likelihood of a corporate tax hike weighing heavily on investors. Dow lost 0.84%, S&P 500 lost 0.57% and Nasdaq closed 0.45% lower on Tuesday.
Asian investors also seem to have factored in uncertainty over another slow down over anticipated Chinese economic data.
Things to note before trade
Shree Cement announced an INR47.50bn ($645m) investment for a new cement plant in Rajasthan
UBS Group AG hikes its stake in Indian lender Power Finance Corporation to 5.67%
Life Insurance Corporation hiked its stake in its mortgage business arm to 45.24% from 40.31% after closing a preferential allotment of shares
Reliance Infrastructure will receive INR71bn from Delhi Metro Rail Corporation after a recent court verdict favouring the firm
Tata Steel commissioned a new five-tonnes-per-day-capacity unit to capture carbon in Jamshedpur
Read More: US inflation cooled in August