Indian equities are expected to open with limited movement on Monday as investors assess high crude prices, elevated US bond yields and continuing geopolitical tensions. GIFT Nifty was trading around 23,338, pointing towards a largely flat opening. The Nifty 50 had ended Friday at 23,346.40, while the Sensex closed at 74,294.96.
Brent crude declined around 2% to nearly $101.7 a barrel on Monday as markets assessed signs of recovering Saudi Arabian shipments. US West Texas Intermediate crude also remained below $100.
Tensions between the United States and Iran remain a major risk for global markets. President Donald Trump and Iranian officials exchanged fresh warnings over the weekend, while Iran-aligned Houthi forces continued attacks in the region, including strikes targeting Saudi Arabia.
Gold prices slipped in early Asian trading on Monday as investors assessed the impact of higher inflation expectations and the Federal Reserve’s recent interest-rate increase. Spot gold was around $4,368 an ounce, while US gold futures also moved lower.
Silver prices remained elevated on Monday despite a mild decline in international prices. COMEX silver was around $66.90 an ounce, while domestic silver was quoted near Rs.2,49,900 per kg in the latest market data.
Foreign portfolio investors have withdrawn around Rs.20,974 crore from Indian equities so far in September, reflecting caution towards emerging markets. Higher US interest rates, elevated crude prices and a weaker rupee have contributed to the selling pressure.
Jaiprakash Power Ventures Ltd. has reached an agreement with the National Asset Reconstruction Company Ltd. (NARCL) to settle claims linked to its insolvency proceedings. The company will pay Rs.511 crore as a full and final settlement.
Lemon Tree Hotels Ltd.’s subsidiary Fleur Hotels has acquired a land parcel in Mumbai and incorporated a wholly owned subsidiary in the Maldives. The move adds to the group’s ongoing expansion of its hospitality platform.
Apollo Pipes Ltd.’s subsidiary Apollo Ceramics has acquired a 76% stake in Mazzini Tiles for Rs.40.4 crore. The transaction marks Apollo Pipes’ entry into the ceramic tiles business and expands its presence beyond its traditional piping operations.
NTPC Green Energy Ltd. has commenced commercial operations of the third phase of its subsidiary’s renewable-energy project in Kutch. The newly commissioned phase has a capacity of 9.45 MW.
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