Indian equity markets may see a cautious start on Monday, with early indicators pointing to limited weakness in domestic benchmarks. Global geopolitical tensions, fluctuations in crude oil prices and the ongoing corporate earnings season are influencing investor positioning.
At around 7:15 a.m., Gift Nifty was trading at 23,874.50, down 38.50 points, or 0.16%, indicating a muted opening for Indian equity markets.
In global markets, US equities closed higher, with the S&P 500 index ending at a record high, while the technology-heavy Nasdaq also advanced. Investor interest in the artificial intelligence (AI) sector supported market sentiment. Despite tensions in the Middle East, investor focus remained on technology and growth stocks. Asian markets also reflected the positive sentiment, with several key indices trading near record levels.
Amid the corporate earnings season, several companies are scheduled to announce their fourth-quarter (Q4) results on Monday, including Bata India, PhysicsWallah, Cummins India, GMR Airports, PC Jeweller and PG Electroplast. Several other companies are also expected to release financial results.
Although markets will remain closed on May 28, several companies are scheduled to announce financial results, including Ashok Leyland, Finolex Cables, Lemon Tree Hotels, Praj Industries and Schneider Electric Infrastructure.
ONGC reported a 3.1% increase in fourth-quarter profit to ₹6,650 crore, while revenue rose to ₹35,928.2 crore. Siemens reported a 36.4% decline in profit to ₹370.4 crore, although income increased 14.6%. JK Tyre & Industries reported profit growth of more than 80%, while revenue increased at a double-digit rate.
The Government of India is set to sell a 1% stake in Coal India through an offer-for-sale (OFS), with a floor price fixed at ₹412 per share.
