A weak opening on the cards

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 148 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday, with shares of embattled Chinese developer China Evergrande Group continuing to drop. Markets in mainland China, Japan and South Korea are closed on Monday for holidays.

US stocks dipped on Friday as investors remain cautious due to a resurgent Covid virus and a historical tendency for September to be a weak month for equities.

The Food and Drug Administration advisory committee on Friday rejected a plan to administer booster shots of Pfizer and BioNTech's Covid-19 vaccine to the general public.

Investor focus for the week will likely be on the U.S. Federal Reserve's upcoming September meeting for clues on the central bank's tapering of its easy monetary policy.

Domestic markets:

Back home, equity indices snapped three day streak and ended with small losses on Friday. The barometer index, the S&P BSE Sensex, fell 125.27 points or 0.21% at 59,015.89. The Nifty 50 index lost 44.35 points or 0.25% at 17,585.15.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,552.59 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,398.55 crore in the Indian equity market on 17 September, provisional data showed.

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