INDIA STOCKS Indian stocks appear to be taking a breather after four-day slump – Reuters

A general view of the Bombay Stock Exchange (BSE), after Sensex broke above the 50,000 level for the first time, in Mumbai, India January 21, 2021. REUTERS/Francis Mascarenhas

BENGALURU, Sept 27 (Reuters) – Indian stocks are set to open slightly higher on Tuesday, after falling more than 4% in the past four sessions, even as global markets remain jittery over concerns over economic growth.

India’s NSE equity futures listed on the Singapore exchange rose 0.3% at 0145 GMT, while MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell by 0.2%.

On Monday, the NSE Nifty 50 Index (.NSEI) fell 1.8% to 17,016.30, while the S&P BSE Sensex (.BSESN) fell 1.6% to 57,145.22.

The Nifty Volatility Index (.NIFVIX), which indicates traders’ expectations for market volatility over the next 30 days, hit its highest since mid-June on Monday.

Foreign institutional investors on Monday sold 51.01 billion Indian rupees ($625.1 million) worth of Indian stocks, according to preliminary data available from the National Stock Exchange.

Actions to watch:

** India’s Oil and Natural Gas Corp (ONGC.NS) has secured a better price for oil under new rules that allow producers marketing freedom, industry sources said. Read more

** Amara Raja Batteries (AMAR.NS) announced the backward integration of its business on Monday.

** Jubilant Foodworks (JUBI.NS) has acquired a 29.42% stake in Roadcast Tech Solutions.

** Mahindra Logistics (MALO.NS) will sell its enterprise mobility business to its unit for Rs 361.2 million and buy Rivigo’s B2b Express business for Rs 2.25 billion.

** UCO Bank (UCBK.NS) is planning rupee swaps with Russia, Bloomberg News reported on Monday.

** Punit Commercials (PUNC.BO) will consider issuing free shares.

** Likhitha Infrastructure (LIKI.NS) has approved the stock split in a 1:2 ratio.

** Archies (ARGG.NS) reported a minor fire at the Naraina Industrial Zone headquarters.

** Indian company Dev Information Technology won an order worth Rs 49.7 million.

** Raghuvir Synthetics (RAGU.BO) said production began on September 26 at its factory.

**Shree Ajit Pulp And Paper (SAPP.BO) will consider issuing shares on a rights basis.

($1 = 81.6100 Indian rupees)

Reporting by Nallur Sethuraman in Bangalore; Editing by Savio D’Souza

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