Pre-market: Markets may open lower on weak Asian cues

Benchmark share indices are likely to open lower amid weak Asian cues as the partial US federal government shutdown continues

Benchmark share indices are likely to open lower amid weak Asian cues. Stocks in Asia opened lower as the partial US federal government shutdown continues after lawmakers fail to reach a consensus on the budget and healthcare spending bill.

At 7:35AM Indian Standard Time the SGX Nifty was down 34 points at 5,925.

Key US share indices ended higher on Friday in anticipation that lawmakers would soon resolve issues concerning the healthcare funding bill and put an end to federal government shutdown.

The Dow Jones industrial average ended up 76 points, or 0.5%, to end at 15,073. The Standard & Poor's 500 Index closed 12 points, or 0.7% higher, at 1,690. The Nasdaq Composite Index rose 33 points or 0.9%, to end the session at 3,808.

European stocks ended higher on Friday after data showed that wholesale inflation in the euro zone remained steady and August producer price index was flat, compared with expectations of a marginal rise. The CAC-40 gained 0.9%, DAX rose 0.3% while the FTSE-100 ended marginally higher.

STOCKS TO WATCH

ONGC and Oil India would be in action after the government has approved ONGC Videsh Ltd, the overseas arm of ONGC, and its partner Oil India Ltd acquiring a total of 20% stake in a giant offshore gas field in Mozambique for over $5 billion.


Ashoka Buildcon, the highway concessionaire and EPC company, has received Rs 110 crore as the third tranche of investments in its subsidiary - Ashoka Concessions Ltd from Macquarie-SBI Infrastructure Fund.

Four Soft announced that it has completed slump sale of the Company's business of providing new technology-based software for supply chain and logistics operational processes for US $22.50 million.