Indian markets are expected to open marginally lower on back of the lowering of India weightage in the MSCI Index and weak close on Friday and fall in major Indian ADRs. However, the only factor to keep the sentiment up is the huge positive FII investment figures announced on Friday.
Industries lead to the fall in the closing session.
Unwinding was also seen in select tech counters like Satyam Computers and Digital Equipments. Cement stocks were major gainers with Gujarat Ambuja gaining on news of the company allotting shares to investment firm Warbug at a price of Rs 225 per share. Institutions were seen buying in select FMCG and IT stocks, while traders were unwinding their positions. Telecom Cement stocks witnessed renewed buying. Gujarat Ambuja was up on the news of pref allotment to Warburg Pincus at Rs 225 per share.