Markets seen rangebound; Agriculture companies, Future Enterprises in focus

Indian stocks are likely to be rangebound on Monday, while trends in the SGX Nifty suggest a negative opening for the benchmark indices. On Friday, the BSE Sensex ended at 38,845.82, down 134.03 points or 0.34%. The 50-share index Nifty was at 11,504.95, down 11.15 points or 0.10%.

Asian shares and most currencies held to tight ranges in early deals, as investors awaited developments on US fiscal stimulus and coronavirus vaccines amid a resurgence of infections in Europe.

Prime Minister Narendra Modi hailed what he called a “watershed moment” after the government managed to get two controversial farm bills voted through in the Rajya Sabha on Sunday, overriding strident opposition demands for scrutiny by a house committee. Modi said the Farmers Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, and the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020, would transform agriculture and empower millions of farmers after the bills were approved by a voice vote amid disruptions. Farm and agri-related stocks are likely to be in focus today.