Nifty Seen Opening Near 17,400; Reliance Industries In Focus

The Indian equity benchmarks are set to open higher as indicated by the Nifty Futures traded on Singapore Exchange. Nifty futures on Singapore Exchange also known as SGX Nifty futures rose 39 points to 17,397 amid positive cues from other Asian markets. Asian shares edged higher on Monday as a disappointing U.S. payrolls report promised to keep policy there super-loose for longer, but also clouded the outlook for global growth and inflation.

A holiday in the United States made for thin conditions and kept MSCI's broadest index of Asia-Pacific shares outside Japan to a small gain of 0.2 per cent, though that was the highest since late July.

Japan's Nikkei added 1.7 per cent, extending a rally on hopes a new prime minister there would bring added fiscal stimulus.

Chinese blue chips gained 1.3 per cent amid speculation Beijing would also be adding stimulus through fiscal and monetary policy.

Nasdaq futures were barely changed, while S&P 500 futures dipped 0.1 per cent. EUROSTOXX 50 futures and FTSE futures were little moved.

Back home, foreign institutional investors bought shares worth Rs 768.58 crore on Friday while domestic institutional investors bought shares worth Rs 69 crore.

Reliance Industries will be in focus after the company said that its subsidiary Reliance Strategic Business Ventures acquired 2,28,42,654 equity shares of Rs 10 each of Strand Life Sciences Private Limited for a cash consideration of Rs 393 crore.

Ashoka Buildcon will be in focus after it received an order from Adani Road Transport Limited in respect execution of civil and associated works on Engineering, Procurement & Construction (EPC) basis of six laning of NH-19 from Pangarh to Palsit from km. 521.120 to km. 588.870 (total design length 67.750 km) in West Bengal.