Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 38 points at the opening bell.
Industrial production declined by 8% in August, mainly due to lower output of manufacturing, mining and power generation sectors, official data showed on October 12. The IIP had contracted by 1.4% in August 2019.
Retail inflation rose to 7.34% in September, mainly on account of higher food prices, according to government data. The inflation based on the Consumer Price Index (CPI) stood at 6.69% in August. It was 3.99% in September last year.
Overseas, Asian stocks are trading higher as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.
In US, Wall Street surged on Monday, fueled by expectations of a coronavirus relief package and by a rally in Amazon, Apple and other technology stocks ahead quarterly earnings season.
Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.
U.S. Senate Republicans said they will go along with what President Donald Trump wants in coronavirus relief legislation, a White House spokeswoman reportedly said on Monday.
Investors are also closely watching the global resurgence in coronavirus cases after British Prime Minister Boris Johnson on Monday announced a new system of restrictions on parts of England. Lawmakers will vote on the move on Tuesday.
Back home, domestic equity benchmarks ended a volatile session with minor gains on Monday. The Nifty ended above 11,900 mark after briefly crossing 12,000 mark in morning trade. Trading was volatile as investors assessed the latest government measures announced by the finance minister Nirmala Sitharaman to stimulate consumer demand in the covid-hit economy. The S&P BSE Sensex, gained 84.31 points or 0.21% at 40,593.80. The Nifty 50 index added 16.75 points or 0.14% at 11,930.95.
Foreign portfolio investors (FPIs) bought shares worth Rs 615.17 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,028.77 crore in the Indian equity market on 12 October, provisional data showed.
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