The Indian equity benchmarks are likely to open on a negative note on Monday as indicated by the Nifty Futures traded on Singapore Exchange. The SGX index was trading 37 points or 0.21 per cent lower at 17,502.
Here are key things to know before markets open on Monday.
The Asian shares were trading lower in early trade on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent. While Japan’s Nikkei slipped 0.40 per cent, Singapore’s Hang Seng index was trading 1.38 per cent lower. China’s Shanghai was trading 0.15 per cent higher, whereas Shenzhen component slipped 0.68 per cent. South Korea’s KOSPI was trading 0.11 per cent higher.
On Friday, the US markets ended lower, thus marking the third losing week in a week amidst the anticipation of an aggressive rate hike by the US Federal Reserve.
The S&P 500 declined 133 points or 3.3 per cent, whereas the Dow Jones Industrial Average plunged 94.96 points or 3 per cent. While the Nasdaq slipped 510.85 points or 4.2 per cent, the Russell 2000 was down 90.08 points or 4.7 per cent. Russian energy giant Gazprom said it wouldn’t reopen a natural gas pipeline to Germany for now thus indicating trouble for Europe, which is already grappling with higher energy prices.
Gazprom, which is a Russian energy giant said that it reopen a natural gas pipeline to Germany thus indicating trouble for Europe, which is already grappling with higher energy prices. This lowered the indices further.
Gold and Crude Oil Price Check
On Monday, the crude oil prices jumped more than $1 per barrel. The Brent crude futures surged $1.43 $1.43, or 1.5 per cent, to $94.45 per barrel by 0054 GMT. U.S. West Texas Intermediate crude surged $1.25, or 1.4 per cent at $88.12 per barrel.
The gold prices were trading flat on Monday. Spot gold remained unchanged at $1,611.48 per ounce at 0148 GMT, whereas US gold futures were trading flat at $1,722.
The foreign institutional investors (FII) continued to remain net sellers worth Rs 8.79 crore, whereas the domestic institutional investors sold shares worth Rs 668 crore on Friday.
Stocks In Focus
SpiceJet: SpiceJet had earlier announced that it has received three months extension to hold the company’s annual general meeting (AGM). SpiceJet’s losses widened to Rs 1,748 crore in FY22. It is also planning to raise Rs 225 crore from bankers.
Vodafone Idea: India’s third-largest telecom operator has recently prepaid Rs 2,700 crore to the State Bank of India in order to get the confidence back of lenders to raise funds for 5G equipment.
Tata Group: Cyrus Mistry, Tata Group’s former chairman was killed in a road accident on Sunday. The Shapoorji Pallonji group holds an 18 per cent stake in Tata Group.