MUMBAI: Indian equities will likely have a wobbly start to the week, with SGX Nifty futures down 0.4% in early deals.
On Friday, the BSE Sensex had ended at 37,020.14, up 548.46 points or 1.50% while the Nifty had settled at 10,901.70, up 161.75 points or 1.51%.
Asian shares were wary on Monday as investors eyed efforts to stitch together more fiscal stimulus in the eurozone and United States to help economies ride out the effects of a record jump in coronavirus cases globally.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat at 541.49, with Australian shares down 0.3% and South Korea's KOSPI just a shade higher.
Japan's Nikkei was up 0.1%.
E-minis for the S&P 500 rose 0.1% in early Asian trade.
Last week, European, US and other equity markets had notched their third weekly gain in a row, although the pace of the rally has slowed.
Investors are now focussing on the European Union Summit, with leaders haggling over a plan to revive economies throttled by the pandemic.
The leaders are at odds over how to carve up a vast recovery fund designed to help haul Europe out of its deepest recession since the World War Two, and what strings to attach for countries it would benefit. Diplomats said it was possible that they would abandon the summit and try again for an agreement next month.
Back home, shares of HDFC Bank will be in focus after managing director Aditya Puri said an internal probe into its vehicle lending business revealed issues of personal misconduct, with appropriate disciplinary action taken against a section of employees.
The lender on Saturday also reported a 19.6% year-on-year (y-o-y) rise in its net profit to ₹6,659 crore for the three months ended June due to a rise in net interest income (NII) and lower tax outgo. NII grew 17.8% y-o-y to ₹15,665.4 crore, while net interest margin stood at 4.3%, unchanged from the same period last year.
Drug Controller General of India V.G. Somani has pulled up Glenmark Pharmaceuticals Ltd for alleged false claims about the use of Fabiflu to treat covid-19 as well as overpricing of the branded generic, having received a complaint by an unnamed legislator.
Telecom firm Vodafone Idea on Saturday said it paid an additional ₹1,000 crore to Department of Telecommunications on 17 July as part of its adjusted gross revenue (AGR) dues.
Major companies which will declare June quarter results today are ACC Ltd and SBI Card.
Among currencies, the dollar was a shade higher on the Japanese yen at 107.06. Sterling was mostly flat at $1.2571.
The Australian dollar ticked up 0.1% at $0.7002. That left the dollar index barely changed at 95.905.
In commodities, spot gold was flat at 1,808.5 an ounce. US crude rose 6 cents to $40.65 per barrel and Brent was up 2 cents at $43.15.
Reuters contributed to the story.
