SGX Nifty indicates strong start for Indian indices

Market outlook

Volatility may continue in markets on Monday, while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Friday, the BSE Sensex ended at 55,329.32, down 300.17 points or 0.54% and the Nifty was at 16,450.50, down 118.35 points or 0.71%. (Read more)

Three insurance-related firms to raise ₹10,000 cr through IPOs

Adding more fire to the already-frenzied IPO market, three insurance sector companies are entering the primary market with initial public offerings in coming months to mop up over ₹10,000 crore. These companies are — PB Fintech, which runs the insurance brokerage Policybazaar; standalone health insurer Star Health & Allied Insurance Company; and third-party administrator Medi Assist Healthcare Service. They have already filed their draft prospectus with markets regulator Sebi. Already over 40 companies have hit the IPO market so far this year, raising close to ₹70,000 crore. (PTI)

Railways suffered ₹36,000 cr loss during pandemic; goods trains real revenue generators: Danve

Union minister Raosaheb Danve on Sunday said the Railways has suffered losses to the tune of ₹36,000 crore during the coronavirus pandemic, and termed goods trains as the real revenue generators for the national transporter. He also said that a bullet train project would be executed along the Mumbai-Nagpur Expressway, which is under construction at present. The minister of state for railways was speaking at the foundation stone laying ceremony of an underbridge at the Jalna railway station. (PTI)

I-T portal live after emergency maintenance: Infosys

After about two days of the income tax portal being unavailable, Infosys late on Sunday said emergency maintenance on the website has concluded and it is now live. Developed by Infosys, the new income tax e-filing portal “www.incometax.gov.in’ has had a bumpy start from the day of its launch on June 7 as it continued to face tech glitches with users complaining that certain functionalities were either unavailable or working slow. A tweet by Income Tax department said the portal has not been available since Saturday. (PTI)

Asian stocks open higher

Asian stocks rose early Monday as traders sought to take advantage of last week’s selloff while weighing risks from the delta virus strain and China’s regulatory curbs. The dollar was firm. Shares climbed in Japan, South Korea and Australia. US equity futures edged higher after an advance in the S&P 500 and tech-heavy Nasdaq 100 at the end of last week. The dollar held its recent advance on haven demand due to the impact of the delta variant. Treasuries were little changed ahead of the Jackson Hole symposium from Thursday, which may offer insights into how the Federal Reserve plans to taper bond purchases. 

S&P 500 futures rose 0.1% as of 9:20 a.m. in Tokyo. The S&P 500 rose 0.8% Friday

Nasdaq 100 futures rose 0.2%. The Nasdaq 100 climbed 1.1%

Japan’s Topix index rose 1.4%

Australia’s S&P/ASX 200 Index added 0.3%

South Korea’s Kospi index gained 0.4%

Hang Seng Index futures increased 0.8% earlier