Sensex, Nifty Set To Open Higher; Cipla, Steel Strips Wheels In Focus

The Indian equity markets are set to open higher as indicated by the Nifty futures on Singapore Exchange. The Nifty futures on Singapore Exchange also known as the SGX Nifty futures rose 29 points or 0.2 per cent to 17,559. Meanwhile, most of the Asian markets were trading lower with Japan’s Nikkei down 0.95 per cent, Hong Kong’s Hang Seng falling 1.75 per cent and Taiwan Weighted down 0.6 per cent.

On Friday, the Wall Street stocks surged to a higher close on Friday, kicking off the fourth quarter in a buying mood boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.

The Dow Jones advanced 1.43 per cent, S&P 500 rallied 1.15 per cent and Nasdaq climbed 0.82 per cent.

Back home, foreign institutional investors bought shares worth Rs 131 crore while domestic institutional investors sold shares worth Rs 613 crore on Friday.

Cipla shares will be in focus after the company said that it has partnered with Eli Lilly to sell diabetes products in India.

Steel Strips Wheels shares will be on investors’ radar after its shareholders approved sub-division of equity shares of the company from the existing one equity share of face value of Rs 10 each into two equity shares of face value of Rs 5 each.

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