Indian equities may see a flat to negative start to the week on Monday due to weak momentum from the global markets. The GIFT Nifty futures also hinted at a weak start, quoting only 5 points higher than Nifty50 futures at 23,384 levels.

Stock exchanges in the Asian-Pacific region were mostly a sea of red this morning, with Japan’s Nikkei slipping by 0.17 per cent with broad based Topix sliding by 0.47 per cent. 

South Korean Kospi declined by 0.07 per cent, while the small-cap Kosdaq rose by 0.86 per cent. Futures for Hong Kong’s Hang Seng index were down by 0.78 per cent.

On Friday in the US, S&P 500 saw a modest gain of 0.54 per cent. Meanwhile, the tech-heavy Nasdaq rose by 0.90 per cent to finish. The Dow Jones Industrial Average also posted a gain, adding 0.17 per cent during the trading session.

Domestically on Friday, the NSE Nifty 50 closed 21.70 points, or 0.1 per cent, higher at 24,323, while the S&P BSE Sensex finished 53.07 points, or 0.1 per cent, lower at 79,996. Foreign portfolio investors purchased stocks worth Rs 1,241.3 crore, while domestic institutional investors continued as net sellers for the third consecutive session, selling equities worth Rs 1,651.4 crore.

Stocks to track on Monday:

NLC India: NLC India has secured the rights to develop the Machhakata coal mine in Angul, Odisha, marking its success in acquiring the second commercial coal mine block in the state. The mine boasts a total coal reserve of 1,377 million tonnes and a peak rated capacity of 30 million tonnes per annum.

Induslnd Bank: Induslnd Bank’s Q1FY25 estimates highlighted significant YoY growth. Net advances increased by 16 per cent YoY to Rs 3.48 trillion, while deposits grew by 15 per cent YoY to Rs 3.98 tillion. However, the CASA ratio dropped to 36.7 per cent YoY from 39.9 per cent YoY.

Bank of Baroda: Bank of Baroda’s global business expanded by 8.52 per cent YoY to Rs 23.77 trillion in Q1, with global advances rising by 8.14 per cent YoY to Rs 10.72 trillion. 

JM Financial: JM Financial’s board has approved the acquisition of a 42.99 per cent stake in JM Financial Credit Solutions (JMFCSL) for Rs 1,282 crore. Additionally, JM Financial Credit Solutions will acquire a 71.79 per cent stake in JM Financial Asset Reconstruction Company (JMFARC) from JM Financial for Rs 856 crore.