Indian shares are likely to open lower on Monday as investors remained cautious amid the ongoing June-quarter earnings season.
Asian shares fell after heightened geopolitical tensions in the Middle East and expectations of a lower than expected cut in interest rates by the US Federal Reserve.
The BSE Sensex and NSE’s Nifty 50 plunged 1.5 percent on Friday following muted earnings and the government’s decision to maintain the status quo on the FPI tax issue. The Sensex ended 560 points lower at 38,337, while the broader Nifty50 index lost 177 points to end at 11,419.
At 7.15 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 20 points, or 0.18 percent, lower at 11,409, indicating a negative start for the Sensex and the Nifty 50.
Stocks to watch: IndiGo, HDFC Bank, Axis Bank in focus. Click here to know more.
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