Indian shares look set to open a tad lower on Monday as investors await the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting this week for direction.
The MPC meets on October 6 and will end its deliberations on October 8. Asian markets traded mostly lower this morning despite strong cues from Wall Street Friday.
Shares of heavily indebted China Evergrande were suspended after some bondholders said the property developer at the centre of jitters over China’s financial system had missed a second key bond interest payment.
Closer home, Grasim Industries could be in focus after the Income Tax Department raised a demand of Rs 8,334 crore from the company as capital gains tax in a transaction related to the demerger of its financial services business.
On the earnings front, Avenue Supermarts reported a 47 percent year-on-year jump in standalone revenue for the September quarter.
Sensex, Nifty Seen Flat To Lower On Weak Asian Cues
2021-10-04 03:05:22
