Sensex, Nifty Set To Fall; Zomato, Metal Stocks In Focus

Stocks open mixed in Asia on Monday as investors continued to focus on the outlook for global interest rates and Covid in China.

Indian markets will likely take cues from global developments when they open on Monday. Domestic metal stocks will, however, be in focus as the government cut export duty on steel.

India’s benchmark indices snapped four-week gaining streak to end lower on the week through Nov. 18. The Sensex dipped 131.56 points or 0.21%, while the Nifty declined 42.05 points or 0.22% on Friday.

U.S. stocks ended with a slight gain on Friday after shrugging off Federal Reserve warnings that there was more policy tightening to come. Oil futures fell on signs that the market is currently awash in supply.

At 8:30 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — was down 0.49% at 18,258.50.