Indian markets are likely to start Monday’s session lower with the SGX Nifty on Singapore Exchange trading down 44 points at 10,378.50. Last week, the Nifty added 106.1 points to close above the 10,350 level at 10,389.70 while the BSE Sensex gained 336.44 points to settle at 33,679.24. That came a week after another global agency Moody’s decided to upgrade its rating on India to “Baa2” from “Baa3”, citing low income levels, high debt and weaker government finances. The liquidity driven gains were supported by positivity in global peers, some domestic triggers along with buying in fundamentally strong stocks lifted the indices. The market sensed buoyancy with Government promulgating ordinance to amend the insolvency and Bankruptcy code (IBC), This Ordinance will prevent defaulters from bidding for their assets in resolution proceedings and take control.
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