The domestic stock markets are likely to open in the negative, after extending a record-breaking rally for the third straight session on Monday, going by indications from SGX Nifty trading. Trends on SGX Nifty indicate a negative opening for the index in India, with a loss of 48 points. At 8:00 am, the Nifty futures were trading at 13,406, lower by 48.50 points or 0.36 per cent on the Singapore Stock Exchange.
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Axis Bank shares are likely to be in the limelight as the credit rating agency Fitch Ratings has re-affirmed the Long-Term Issuer Default Rating (IDR) of the private sector bank as BB+ with negative outlook and its viability rating (VR) at ”bb”.
Canara Bank shares may witness buying interest after the state-owned lender set a floor price of Rs 103.50 per share for its qualified institutional placement (QIP). The bank had received shareholders’ nod at its annual general meeting held in August for raising up to Rs 2,000 crore through QIP.
National Buildings Construction Corporation (NBCC) counter may see come action after the state-owned construction company said that it bagged contracts worth Rs 325 crore last month.