Indian shares set to fall on risk aversion, ahead of Dec F&O series expiry

Indian shares are set to open lower on Thursday, tracking a slide in global equities as investors moved with caution in the year-end, ahead of the December derivatives series' expiry....

Indian shares set to fall on risk aversion, ahead of Dec F&O series expiry

India's NSE stock futures listed on the Singapore exchange were down 0.50% at 18,046, as of 7:40 a.m. IST. Wall Street equities closed lower after investors assessed the U.S.

Federal Reserve's rate hike path on mixed economic data released earlier in the week and concerns over a surge in COVID-19 cases in China. Asian markets also declined, with the MSCI Asia ex-Japan index losing 1.06%. [MKTS/GLOB] The expiry of the December derivatives series, the last series of 2022, on Thursday, could lead to a spike in volatility as traders will look to settle their futures and options contracts.

Capping losses for domestic equities could be oil prices, which fell on China demand concerns. Brent crude <LCOc1) fell below $83 per barrel while Nymex crude hovered around $79 per barrel. [O/R] Lower oil prices aid oil-importing countries like India, where crude constitutes the bulk of the country's import bill.

Foreign institutional investors sold 8.73 billion Indian rupees ($105.52 million) worth of equities on a net basis on Wednesday, while domestic investors bought about 3.73 billion Indian rupees ($45.08 million) worth of shares, as per provisional NSE data. STOCKS TO WATCH ** Mahindra and Mahindra: Co will raise its stake in MITRA Agro Equipments to 100% from 47.33%. ** Wipro: Co completed the acquisition of remaining 3.3% stake in Encore Theme Technologies.

Wipro now holds a 100% stake in Encore. ** Ashoka Buildcon: Co has been awarded three projects worth 7.55 billion rupees. ** Tata Power: Co's unit secures Letter of Award to set up 255MW hybrid project for Tata Power Delhi distribution ** Spandana Sphooty Financial: Co approved the transfer of stressed loan portfolio, worth 3.23 billion rupees, to an asset reconstruction company for 950 million rupees.

($1 = 82.7360 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)