India Stocks: Indian shares seen opening flat, eye Oct inflation data

Pfizer

14/11/2022 03:04

BENGALURU, Nov 14 (Reuters) - Indian shares are expected
to see a muted opening on Monday, going into the country's
inflation data due later in the day, which would provide cues on
the central bank's interest rate trajectory.
    India's NSE stock futures, listed on the Singapore exchange
 SINc1 , were up 0.05% at 0203 GMT. The MSCI's broadest index of
Asia-Pacific shares outside Japan  .MIAPJ0000PUS  added 0.8%.
 MKTS/GLOB 
    On Friday, the NSE Nifty 50 index  .NSEI  closed up 1.78% at
an over-one-year high of 18,349.70, while the S&P BSE Sensex
 .BSESN  added 1.95% to hit a record close at 61,795.04.
    A Reuters poll forecast retail price inflation to slow in
October to 6.73%, due to weaker food price rises and a strong
base year, but to remain stubbornly above the 6% upper limit of
the central bank's tolerance band. 
    With a bulk of Indian earnings in the rear view mirror,
hundreds, including low-cost carrier SpiceJet  SPJT.NS ,
drugmaker Biocon  BION.NS , tyre manufacturer Apollo Tyres
 APLO.NS , conglomerates Godrej Industries and Grasim Industries
 GRAS.NS  are expected to report results later in the day.
    Foreign institutional investors bought net of 39.58 billion
Indian rupees ($491.82 million) equities on Friday, while
domestic investors bought 6.16 billion rupees of shares, as per
provisional data available with the National Stock Exchange.
    Stocks to watch:
    ** Life Insurance Corporation of India  LIFI.NS  posted a
more than 11-fold jump in second-quarter profit on moving 142.72
billion Indian rupees to its shareholders' fund to shore up its
net worth.  urn:newsml:reuters.com:*:nL4N3273L6
   
    ** Pfizer Ltd  PFIZ.NS , the Indian arm of U.S. pharma giant
Pfizer Inc  PFE.N , reported a rise in second-quarter profit on
price hikes and lower input costs.  urn:newsml:reuters.com:*:nL4N3264II
    ** Bharat Heavy Electricals  BHEL.NS  reported a quarterly
profit, compared with a loss last year, as a strong performance
in its industrial segment helped outweigh weakness in its power
division.  urn:newsml:reuters.com:*:nL4N3272RS
    ** New Delhi Television on Friday put on hold the proposed
sale of its 20% stake in Malaysian media firm Astro Awani
Network Sdn Bhd after the Central Bureau Of Investigation
withheld its approval.  urn:newsml:reuters.com:*:nFWN32765T
    ** India's top mining industry federation is seeking higher
import taxes on metals such as zinc, copper and aluminium to
help halt a tide of cheaper imports, especially from
China.  urn:newsml:reuters.com:*:nL1N32A00H
($1 = 80.4770 Indian rupees)
 (Reporting by Praveen Paramasivam and Chris Thomas in
Bengaluru; Editing by Dhanya Ann Thoppil)
 ((Praveen.Paramasivam@thomsonreuters.com; https://twitter.com/PraveenR_P
 ; +91 867-525-3569;))