The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 65 points or 0.4 per cent to 16,585 amid mixed global cues
The Indian equity benchmarks are set to snap their four-day winning streak as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 65 points or 0.4 per cent to 16,585 amid mixed global cues.
Asian markets were trading on a mixed note in Monday morning trading with Hong Kong's Hang Seng falling nearly 3 per cent and South Korea's KOSPI dropped 0.85 per cent while Japan's Nikkei rose 0.7 per cent and Taiwan Weighted rose 0.14 per cent. Analysts said market participants are in wait and watch mode ahead of US Fed meet outcome due later this week amid ongoing Russia-Ukraine war.
The Bank of England is expected to lift its rates to 0.75 per cent on Thursday, the third rise in a row, and to signal more with the market pricing an aggressive 2 per cent by year end, news agency Reuters reported.
Fed fund futures imply no less than six or seven hikes this year to around 1.75 per cent, keeping the U.S. dollar underpinned near the highest since May 2020.
The average U.S. price of regular-grade gasoline shot up a whopping 79 cents over the past two weeks to a record-setting $4.43 per gallon (3.8 liters) as Russia’s invasion of Ukraine is contributing to already-high prices at the pump, reported news agency AP.
Foreign portfolio investors continue to sell shares in the Indian markets. FIIs sold shares worth Rs 2,264 crore on Friday while domestic institutional investors bought shares worth Rs 1,687 crore.
Russia escalated attacks in western Ukraine on Sunday with a deadly airstrike on a military base where Ukrainian troops had trained with NATO forces, bringing the conflict closer to Poland and prompting Ukrainian President Volodymyr Zelenskyy to renew his pleas for a no-fly zone.
Zelenskyy called Sunday a “black day,” and said none of the activities at the military base would have threatened Russian territory. An American journalist was also killed Sunday and another injured when their vehicle came under fire from Russian forces outside Kyiv. Meanwhile, continued fighting in multiple regions caused more misery throughout Ukraine and has provoked international outrage.
Paytm: Paytm shares will be in focus after the Reserve Bank of India on Friday directed Paytm Payments Bank to stop onboarding of new customers with immediate effect due to certain supervisory concerns.
The bank has also been directed to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system, the RBI said in a release.
Lupin: The Mumbai-based drug maker received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Vigabatrin for Oral Solution USP, 500 mg to market a generic equivalent of Sabril for Oral Solution, 500 mg of Lundbeck Pharmaceuticals, LLC. The product will be manufactured at Lupin’s facility in Goa, India.
GAIL India: GAIL India will be in focus after its board of directors approved second interim dividend of Rs 5 per equity share.
Jubilant FoodWorks: The company informed exchanges that it has accepted resignation of Pratik Rashmikant Pota as the CEO and Wholetime Director of the Company as he wishes to pursue opportunities outside Jubilant FoodWorks.