The Indian equity benchmarks are likely to open on a positive note on Tuesday as indicated by the Nifty Futures traded at Singapore Exchange. The SGX index was trading 475 points or 0.27 per cent higher at 17,732.
The foreign institutional investors (FII) sold shares worth Rs 811 crore, whereas the domestic institutional investors sold shares worth Rs 533 crore on Monday
The Indian equity benchmarks are likely to open on a positive note on Tuesday as indicated by the Nifty Futures traded at Singapore Exchange. The SGX index was trading 475 points or 0.27 per cent higher at 17,732.
Here are key things to know before markets open on Tuesday.
The Asian stocks were trading on a mixed note on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside of Japan was trading 0.11 per cent higher. Japan’s Nikkei fell 0.10 per cent lower, whereas South Korea’s KOSPI slumped 0.16 per cent. While China’s Shanghai index advanced marginally at 0.36 per cent, Shenzhen Component was trading 0.29 per cent lower. Singapore’s Hang Seng index slumped 0.38 per cent.
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.
The oil prices were trading lower in early trade on Tuesday, after the OPEC+ announced that it will slash oil production by 10,000 barrels per day in October. Brent Crude futures slipped 33 cents or 0.3 per cent to $95.44 per barrel at 0054 GMT. US West Texas Intermediate (WTI) crude futures surged $2.26 or 2.6 per cent on Monday to $89.13 per barrel.
Gold prices surged on Tuesday, amidst a weak US Dollar and the anticipation of an aggressive rate hike by the US Federal Reserve. Spot Gold surged 0.5 per cent to $1,718 per ounce, as of 0120 GMT. US gold futures advanced 0.5 per cent to $1,731.
The foreign institutional investors (FII) sold shares worth Rs 811 crore, whereas the domestic institutional investors sold shares worth Rs 533 crore on Monday.
DreamFolks: DreamFolks will make its market debut on Tuesday. The company’s initial public offering (IPO) was sold from August 24 to August 26. A day ahead of the listing, the company had a premium of Rs 140 to Rs 150 over its issue price of Rs 326. Its IPO was subscribed 56.68 times, with the qualified institutional investor quota getting subscribed by 70.53 times, NII quota by 37.66 times and retail quota by 43.66 times.
Delhivery: SBI Mutual Fund's stake in Delhivery increased from 4.98 per cent to 5 per cent after the company acquired more than 1.07 lakh equity shares in the company via open market.