The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 100 points or 0.6 per cent to 17,380
The Indian equity benchmarks are set to open higher on Tuesday as indicated by the Nifty Futures traded on Singapore Exchange amid strong global cues. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 100 points or 0.6 per cent to 17,380.
Asian Markets
Asian markets were trading higher taking cues from strong closing of US markets. Japan's Nikkei rose 0.6 per cent, Hong Kong's Hang Seng advanced 0.41 per cent and South Korea's KOSPI rose 0.2 per cent.
US Markets
Stocks indexes bounced back from a midday slump on Wall Street to finish higher Monday, adding to the market’s recent winning streak despite lingering worries about the resilience of the global economy amid surging inflation and geopolitical tensions.
The S&P 500 rose 0.7 per cent after being down as much as 0.6 per cent. The Dow Jones Industrial Average eked out a 0.3 per cent gain after having been in the red much of the day, while the Nasdaq composite climbed from a 0.5 per cent deficit to close 1.3 per cent higher. The indexes were coming off two straight weekly gains.
Trading has remained choppy, even through the market’s recent run of gains, as investors try to gauge what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out.
Crude Oil and Gold Price Check
Benchmark U.S. crude oil for May delivery fell $7.94 to $105.96 a barrel Monday. Brent crude for May delivery fell $8.17 to $112.48 a barrel.
Wholesale gasoline for April delivery fell 25 cents to $3.22 a gallon. April heating oil fell 33 cents to $3.78 a gallon. April natural gas fell 6 cents $5.51 per 1,000 cubic feet.
Gold for April delivery fell $14.40 to $1,939.80 an ounce. Silver for May delivery fell 42 cents to $25.20 an ounce and May copper rose 3 cents to $4.73 a pound.
Russia-Ukraine War Update
The United Nations chief has launched an initiative to immediately explore possible arrangements for “a humanitarian cease-fire in Ukraine” in order to allow the delivery of desperately needed aid and pave the way for serious political negotiations to end the month-long war.
Secretary-General Antonio Guterres said Monday he asked Undersecretary-General Martin Griffiths, the head of the U.N.’s worldwide humanitarian operations, to explore the possibility of a cease-fire with Russia and Ukraine. He said Griffiths has already made some contacts.
The 193-member U.N. General Assembly, by an overwhelming majority of about 140 nations, has called for an immediate cessation of hostilities in Ukraine twice -- on March 2 and on March 24 -- and Guterres told reporters he thinks “this is the moment” for the United Nations “to assume the initiative.”
Foreign Flows
Foreign institutional investors sold shares worth Rs 801 crore on Monday while domestin institutiona investors bought shares worth Rs 1,162 crore.