Indian Shares Expected to Open Marginally Lower on Global Concerns

Indian shares are anticipated to open slightly lower on Monday due to concerns over rising U.S. interest rates and surging oil prices caused by military conflict in the Middle East. The GIFT Nifty was trading down 0.62% at 19,647.50, indicating a lower opening for the Nifty 50 from Friday’s close. The decline in Wall Street equities following a strong U.S. jobs report has raised worries about a prolonged high interest rate regime.

Asian markets have opened flat, while oil prices have risen due to the military conflict between Israel and the Palestinian enclave of Gaza. This increase in oil prices is a negative factor for importers like India. Shrikant Chouhan, head of research for retail at Kotak Securities, predicts that weak global factors and foreign fund outflows may lead to significant intra-day volatility in Indian equities.

Foreign institutional investors (FIIs) have extended their selling streak for the 13th consecutive session, selling shares worth 902.9 million rupees ($11 million) on a net basis. On the other hand, domestic institutional investors (DIIs) have bought 7.83 billion rupees in shares.

In other news, Tata Consultancy Services is set to consider a share buyback in its board meeting on Wednesday. Titan Co has reported a 20% year-on-year revenue growth in the September quarter. Reliance Industries plans to raise 49.57 billion rupees from the Abu Dhabi Investment Authority. Additionally, Prestige Estate Projects has registered quarterly sales of 70.93 billion rupees, marking a 102% year-on-year increase.

While the global concerns and foreign fund outflows may impact the Indian market, the performance of these companies indicates positive growth and potential opportunities for investors.