Indian shares are set to open little changed on Monday as investors consolidated their positions amid a slew of June quarter results and a lack of other immediate economic triggers.
Asian markets edged higher on Monday after U.S.
signaled easing of core inflation on Friday, bolstering hopes that the U.S. Federal Reserve may be at the end of the monetary policy tightening cycle. Wall Street equities had closed higher on Friday.0.5% last week while Sensex shed 0.79%. Both the blue chips had risen nearly 6% between June 25 and July 21, scaling fresh all-time highs.
Despite the slide, the benchmarks are still less than 2% shy of the record highs scaled on July 20. Analysts expect the consolidation to continue and see selling pressure emerging due to elevated valuations. Foreign institutional investors sold 10.24 billion rupees of Indian equities on a net basis on Friday, while domestic investors purchased 16.34 billion rupees of shares, as per provisional NSE
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