U.S. debt ceiling deal may boost Indian stocks. Due to the U.S. debt ceiling resolution, Indian shares were expected to open higher on Monday. Singapore-listed NSE stock futures rose 0.86% to 18,707 at 8:25 a.m. IST.
Over the weekend, President Joe Biden and House Speaker Kevin McCarthy agreed to suspend the $31.4 trillion debt ceiling until 2025, avoiding a default on June 1. After that, S. Congress must approve the transaction. Asia rose.
Last week, solid earnings and continued foreign inflows into equities lifted the Nifty 50 (.NSEI) 1.63% to a five-month high on Friday.
FIIs acquired 3.50 billion rupees ($71.2 million) of Indian shares on Friday. FIIs bought Indian stocks in 21 of the last 22 sessions.
STOCKS TO WATCH
Bharat Heavy Electricals Ltd. (BHEL.NS): Profit falls in the March quarter due to higher costs.
ONGC.NS: Fourth-quarter loss due to one-time loss.
Central Bank of India Ltd (CBI.NS): RBI fines lender
Lupin (LUPN.NS): Canada subsidiary wins approval to offer generic Spiriva, a COPD medication.
