India stocks open muted as high oil prices, IPO rush weigh
INDA•Primary market activity in focus
Investor focus will also be on the primary market as the National Stock Exchange of India's $2.3 billion initial public offering will close for subscriptions later in the day.
($1 = 95.9300 Indian rupees)
Indian shares open little changed
Sept. 21 (Reuters) - Indian shares opened little changed on Monday as elevated crude oil prices kept investors worried about their impact on inflation and interest rates, while heightened activity in primary markets also sucked out liquidity from stocks.
The Nifty 50 .NSEI fell 0.07% to 23,330.2, while the BSE Sensex .BSESN added 0.32% to 74,535.18, as of 9:23 a.m. IST.
On the day, eight of the 16 major sectors logged losses. The broader small-caps .NIFSMCP100 rose 0.3% while mid-caps .NIFMDCP100 fell 0.1%.
Markets under pressure from oil and recent losses
Last week, the Nifty 50 and the BSE Sensex .BSESN logged a sixth straight weekly fall, their longest losing streak in six years.
Iran and the United States exchanged new threats on Sunday, with President Donald Trump warning Iran would fail economically or face its leadership being wiped out if it didn't make a deal, and the Iranian military saying it would retaliate harshly to any fresh attack.
While Brent crude futures LCOc1 eased 2.2% to $101.6 per barrel on hopes of a recovery in shipments from Saudi Arabia, they remained elevated above $100 a barrel, denting risk sentiment. O/R
