Home >Markets >Stock Markets >Markets may continue to be volatile Monday; Reliance, Vodafone Idea in focus
On Friday, the BSE Sensex ended at 38,854.55, up 14.23 points or 0.04%. The 50-share index Nifty closed at 11,464.45, up 15.20 points or 0.13%. (Photo: Mint)
On Friday, the BSE Sensex ended at 38,854.55, up 14.23 points or 0.04%. The 50-share index Nifty closed at 11,464.45, up 15.20 points or 0.13%. (Photo: Mint)

Markets may continue to be volatile Monday; Reliance, Vodafone Idea in focus

  • Carlyle Group is looking to invest $1.5-2 billion to buy a stake in Reliance Retail Ventures Ltd, said two people aware of the development, joining a string of marquee investors that are keen on buying stakes in units of Mukesh Ambani-led RIL

MUMBAI: Indian equities may witness another volatile session on Monday while SGX Nifty futures suggest a flat opening of benchmark indices.

On Friday, the BSE Sensex ended at 38,854.55, up 14.23 points or 0.04%. The 50-share index Nifty closed at 11,464.45, up 15.20 points or 0.13%.

Asian shares started higher on Monday as hopes of a coronavirus vaccine were rekindled after AstraZeneca resumed its phase-3 trial while sentiment was still cautious ahead of a big week of central bank meetings in UK, Japan and the United States.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, poised for its second straight session of gains.

Friday marked six months since the World Health Organization (WHO) declared the coronavirus a pandemic on 11 March. Since then, major global economies have slipped into recession and millions have lost their jobs, prompting central banks around the world to launch unprecedented stimulus.

The policy bazooka has buoyed financial markets, with the S&P500 up 22%, 10-year Treasury yields diving 20.4 basis points and the greenback sliding 3.3%. The best performing major currency has by far been the Australian dollar, up 11.9%, thanks to sound risk appetite.

Later this week, the US Federal Reserve will hold its two-day policy meeting where it is expected to hold rates while elaborating on the already-announced shift to inflation targeting.

Back home, Securities and Exchange Board of India's (Sebi) new guidelines on multi-cap funds may create some volatility in the markets. On Friday, Sebi directed multi-cap funds, the portfolio of which are dominated by large-cap stocks, to keep at least 25% of their assets each in large-, mid- and small-caps by 31 January. Fund managers said a strict reassignment of assets could trigger massive inflows into mid- and small-cap stocks, reducing the market skew towards large-cap stocks.

Telecom operator Vodafone Idea has become the co-presenting sponsor of the upcoming Dream11 IPL 2020, scheduled to commence from September 19, the company said on Saturday. Vodafone and Idea have had engagement with the IPL cricket tournament in the past but this is the first ever sponsorship deal that Vodafone Idea has signed since its inception in August 2018.

Carlyle Group is looking to invest $1.5-2 billion to buy a stake in Reliance Retail Ventures Ltd (RRVL), said two people aware of the development, joining a string of marquee investors that are keen on buying stakes in units of Mukesh Ambani-led Reliance Industries Ltd.

In currencies, the dollar was mostly steady against the yen at 106.11, a long distance from its low this year of 101.2.

The euro was flat at $1.1841. The Aussie was down slightly at $0.7283.

In commodities, US crude ticked up 0.4% to $37.49 a barrel. Brent rose to $39.86 per barrel. Gold was slightly higher, with spot prices at $1,942.3 per ounce.

Reuters contributed to the story.

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