BSE Sensex may test all-time high; Power Grid in focus
MUMBAI (Reuters) – The BSE Sensex may test all-time highs on Monday, with foreign fund inflows keeping the sentiment bullish.
The BSE-30 share index rose 0.5 percent to a record closing high of 21,004.96 points in a one-hour special Diwali holiday trading session on Friday.
It is only around 200 points shy of an all-time high.
Foreign fund investment of $26.6 billion thus far in 2010 has powered the benchmark index 20.3 percent higher this year to date.
State-run Power Grid Corp will be in focus after the company set the price band for its share sale to raise up to $1.7 billion at 85-90 rupees each, a discount of 12-17 percent to its Friday closing price.
Larsen & Toubro will be on the radar after a company official said on Sunday the engineering and construction firm is bidding for an Oman refinery expansion contract estimated
at $300 million.
The MSCI's measure of Asian markets other than Japan was down 0.3 percent by 0253 GMT, while Japan's Nikkei was trading 1 percent higher.
Nifty India stock futures in Singapore were trading 0.5 percent higher, hinting at a higher open in the domestic market.
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