Shares seen lower; Coal India IPO eyed | business | Hindustan Times
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Shares seen lower; Coal India IPO eyed

business Updated: Oct 18, 2010 09:21 IST

Shares are expected to start lower on Monday, with investors focused on the Coal India's initial share offer to raise up to $3.5 billion that opens for subscription.

Mortgage lender Housing Development Finance Corp and top engineering and construction firm Larsen & Toubro will be watched ahead of results.

Major stock exchanges will open with a 15 minute pre-opening session in the cash and derivatives markets on Monday.

The Bombay Stock Exchange and National Stock Exchange will introduce pre-opening sessions starting at 9 am (0330 GMT) only for the 50 stocks in the NSE's Nifty index. The stocks are traded on both exchanges.

The market for other securities will resume at 9:15 am (0345 GMT) and will close at 3:30 p.m. (1000 GMT).

Previously, the market for all stocks opened at 9 am on both bourses.

The MSCI's measure of Asian markets other than Japan was down 0.5 per cent by 0303 GMT, while Japan's Nikkei was trading 0.5 per cent higher.

The Nifty India stock futures in Singapore were down 0.3 per cent.

On Friday, the 30-share BSE index closed 1.8 per cent lower at 20,125.05 points.