MARKET LIVE: Muted start likely for Sensex, Nifty; Asian markets mixed

 The Sensex and Nifty indices are looking to start Monday’s trade on a weak note amid muted global cues. 

At 7:30 am, the SGX Nifty futures were around 60 points lower at 17,500 levels. 

This week, investors will monitor the European Central Bank’s rate hike decision on Thursday, where it is expected to deliver a second straight large hike amid soaring inflation.

This coincides with US Fed Chair Jerome Powell’s speech at a think-tank conference ahead of the central bank’s September 20-21 meeting.

Today, the OPEC+ meeting will take centre stage after Saudi Arabia recently raised the possibility of production cuts.

Tamilnad Mercantile Bank’s three-day offer will open for subscription today. private sector lender has fixed the price band at Rs 500-525 per share for its Rs 832-crore initial share offer. 

Global cues

On Friday, the Dow and the S&P500 closed 1.1 per cent lower, respectively, while the Nasdaq declined 1.3 per cent. 

Major in Asia were also weak this morning with Nikkei, Hang Seng, Shenzhen Component and shanghai Composite falling 0.2-1.4 per cent. 

Brent Crude was up 1.7 per cent at $94.7 a barrel.

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