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After three week of losses, markets are likely to open the week on a cautious note after the negotiations on ending a deadlock between cash-strapped Greece and its international creditors failed.
Meanwhille, investors will remain cautious ahead of the FOMC meet which is a key economic event and is likely to decide the timeframe for the Fed rate hike.
Meanwhille, investors will remain cautious ahead of the FOMC meet which is a key economic event and is likely to decide the timeframe for the Fed rate hike.
Further, a set of mixed bag macroeconomic data with CPI quoting at 5.01% and IIP numbers quoting at 4.1% are likely to dictate the trend on the bourses.
Industrial production grew by 4.1% over April 2014, pulled up by a rather striking 5.1% growth in manufacturing. On the inflation front, the year-on-year rate rose from 4.87% in April to 5.01 in May.
The country has received 5% more rainfall than the normal limit till now even as northwest India, the southern peninsula and central India have received below normal rainfall, the Met department said on Sunday.
STOCKS IN FOCUS
Vedanta on Sunday said it would merge its subsidiary Cairn India with itself for a larger natural resource play. Each Cairn India shareholder would be offered an equity share of Vedanta , besides a 7.5% redeemable preference share of Rs 10 face value.
Engineering conglomerate L&T and BHEL are likely to remain in focus on the back of strong IIP numbers.
Public-sector banks have put Rs 14,000 crore worth of non-performing assets (NPAs) up for sale, to ease some pressure exerted by stressed loans on their balance sheets. Hence, public sector banks are likely to remain in focus.
Tata Steel is likely to remain on the radar after the company launched a new initiative in its efforts to resolve the pension dispute with its UK trade unions.
In the view of US probing for alleged visa rule violations, TCS and Infosys will be in focus after Communications and IT Minister Ravi Shankar Prasad said the government will intervene if the need arises.
Mahindra & Mahindra will launch a new light commercial vehicle named Jeeto by the end of this month to take on homegrown rival Tata's popular minitruck Ace Zip.
The Tripura unit of ONGC has introduced highly technical Hydro-fracturing (HF) job procedure to intensify exploration of natural gas for supply in different projects of the state.
Engineering major Alstom has decided to hire 200-250 engineers annually in India over the next 3-4 years as it looks to double business to 800 million euro (about Rs 5,700 crore) in the country.
Coal India has become the sixth-largest mining company in the world in terms of market capital, according to a recent PwC report.
Eicher Motors will hog limelight after CLSA initiated the coverage on the stock with a buy rating.
The Delhi Electricity Regulatory Commission approved a 4-6% increase in power purchase adjustment cost (PPAC), or the fuel surcharge, as it restored a levy charged to compensate the discoms for rise in cost of buying electricity on account of surge in coal and gas prices. Tata Power and Reliance Power are likely to react to the news.
GLOBAL MARKET
Asian shares fell and the euro slipped on Monday, after Greece's talks with lenders to avert a default ended with no agreement and Wall Street registered losses ahead of a Federal Reserve meeting.
European Union officials blamed the collapse of the talks on Athens, which it said had failed to offer any new concessions to secure funding it needs to repay 1.6 billion euros ($1.79 billion) to the International Monetary Fund by the end of this month.
On Friday, shares on Wall Street dipped after firm consumer data limited a week of solid economic reports, backing the view that the US Federal Reserve was on track to raise interest rates as early as this autumn.
For the week, the S&P 500 and the Dow Jones industrial average logged modest gains, while the Nasdaq Composite edged down.
With Reueters inputs
With Reueters inputs
