India Stocks: Indian shares set to open little changed

Welspun

26/12/2024 02:35

Dec 26 (Reuters) - Indian shares are set to open little
changed on Thursday, with analysts expecting incremental moves
in benchmark indexes due to a lack of major triggers and thin
trading as the year comes to an end.
    The GIFT Nifty futures  GIFc1  were trading at 23,796 as of
8:00 a.m. IST, indicating that the benchmark Nifty 50  .NSEI 
will open near Tuesday's close of 23,727.65.
    Market sentiment remains subdued during the
holiday-shortened week, with the benchmark indexes seeing muted
activity amid thin volumes and reduced risk appetite as the year
ends, said Vikram Kasat, head of advisory at PL Capital.
    Foreign institutional investors remained net sellers of
domestic equities for the seventh session in a row on Tuesday,
offloading shares worth 24.54 billion Indian rupees ($288
million). Meanwhile, domestic institutional investors bought
Indian shares for the sixth straight session, purchasing shares
worth 28.19 billion rupees.
    Other Asian markets inched higher on the day, while Wall
Street equities were closed overnight for the Christmas holiday.
    
    STOCKS TO WATCH 
    
    ** Welspun Corp  WGSR.NS  wins orders worth 1.3 billion
rupees 
    ** Ramky Infrastructure  RAMK.NS  receives letter of
acceptance for a contract worth 2.15 billion rupees.
    ** Panacea Biotech  PNCA.NS  receives letter of award from
UNICEF worth $14.95 million for supply of 115 million doses of
its bivalent oral polio vaccine bOPV in fiscal year 2025


($1 = 85.1830 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Abinaya Vijayaraghavan)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))