Pre-Market: Shares may open lower, SGX Nifty drops

Indian shares are expected to open on a negative note tracking similar trend in Asian bourses.

At 8:20AM Indian Standard Time the SGX Nifty was down 1 per cent at 5,830. Indian financial markets will be closed on Wednesday, on account of Gandhi Jayanti.

The government will announce the June quarter current account and fiscal deficit data today, which will set the tone for stocks in the days ahead.

US stocks declined on Friday and the S&P 500 and Dow posted their first weekly drop in four, as Democrat and Republican lawmakers struggled to agree on an emergency funding bill to avert an US government shutdown day away.

The S&P 500 declined 1.1% for the week and is roughly 2% below its record high set September 18 when the Federal Reserve announced it would keep its stimulus program unchanged for the present.

The Dow Jones industrial average was down 70.06 points, or 0.46%, at 15,258.24. The Standard & Poor's 500 Index was down 6.92 points, or 0.41%, at 1,691.75. The Nasdaq Composite Index was down 5.83 points, or 0.15%, at 3,781.59.

For the week, the Dow was down 1.3% and the Nasdaq was up 0.2%.

STOCKS TO WATCH


Automobile shares are likely to be in focus, with companies set to announce their September sales figures this week.

Bank of India (BoI) plans to mobilise about $1 billion through foreign currency non-resident-bank (FCNR-B) deposits from Indians residing abroad.

Nalco is set to invest more than Rs 33,000 crore in a host of sectors including energy to boost its productivity and profitability.