(Reuters) - Indian shares were set to fall on Monday, as traders braced for local retail inflation data, due later in the day, and a flurry of interest rate decisions by major central banks this week.
India's NSE stock futures listed on the Singapore exchange were down 0.35% at 18,525.50 as of 7:45 a.m. IST.
The blue-chip indexes slid on Friday and logged their worst week in over two months as IT stocks tumbled after HCL Technologies warned of a potential slowdown in client spending in U.S. markets.
India consumer price inflation for November likely cooled to a nine-month low of 6.40%, according to a Reuters poll. The data is scheduled to be announced post-market hours Monday.
Investors will also focus on rate decisions by the U.S. Federal Reserve and the European Central Bank, due later this week.
U.S. consumer inflation data for November, scheduled to be released on Tuesday, would also be keenly watched. The data comes on the heels of print showing producer prices in the U.S. rose at a faster-than-expected pace, triggering worries for a prolonged Fed rate hike cycle.
Foreign institutional investors sold 1.58 billion rupees ($19.16 million) worth of equities on a net basis on Friday, while domestic investors bought 5.02 billion rupees ($60.88 million) worth of shares, as per provisional NSE data.
Stocks To Watch:
** Bharti Airtel: Co approved allotment of 1.19 mln shares at conversion price of 521 rupees apiece after receiving notice for conversion of FCCBs of principle value of $8.6 mln from some holders.
** Emami: Co increased its shareholding in subsidiary Brillare Science from 77.53% to 80.59%.
** Zydus Lifesciences: Co secured two final approvals from U.S. FDA for Silodosin and Pregabalin capsules.
** PSP Projects: Co received a letter of intent for project worth 1.22 billion rupees from Nila Spaces.