The benchmark indices are likely to open in green on Tuesday, as indicated by global cues.
Trends on SGX Nifty indicate a flat to positive start for the broader index in India
The benchmark indices are likely to open in green on Tuesday, as indicated by global cues.
Trends on SGX Nifty indicate a flat to positive start for the broader index in India, with a gain of 43 points or 0.27 percent. The Nifty futures were trading around 15,886.50 level on the Singaporean Exchange at 7:35 IST.
Besides, all eyes will be Life Insurance Corporation of India as it makes its debut on the stock markets today.
Life Insurance Corporation of India to debut today
Life Insurance Corporation of India will make its debut on the stock markets today after a long-awaited initial public offering (IPO) that attracted overwhelming investor response and raised Rs 21,000 crore for the government.
Market experts are expecting a tepid listing for LIC because of the current upheaval in global equity markets, blamed on Russia's February 24 invasion of neighboring Ukraine, supply-chain disruptions caused by the war, and interest rate increases by the US Federal Reserve and other central banks that have ended years of easy money.
Stocks to look for today
Raymond, Coal India, Kotak Mahindra Bank, Apollo Hospitals, State Bank of India
US Stocks
The S&P 500 ended lower on Monday, with Tesla and other growth stocks losing ground after downbeat Chinese economic data added to worries about a global slowdown and rising interest rates.
The S&P 500 declined 0.39% to end the session at 4,008.01 points.
The Nasdaq declined 1.20% to 11,662.79 points, while Dow Jones Industrial Average rose 0.08% to 32,223.42 points.
Market on Monday:
The Indian equity benchmarks snapped their six-day losing streak to close higher in another volatile session on May 16, buoyed by buying across sectors except in information technology and FMCG segments.
At close, the Sensex was up 180.22 points, or 0.34 percent, at 52,973.84, and the Nifty was up 60.10 points, or 0.38 percent, at 15,842.30.
Asian Stocks
Asian stocks rose Tuesday amid a jump in some technology firms and as investors evaluated China’s efforts to stamp out a Covid outbreak.
Hong Kong stocks opened higher Tuesday despite Wall Street stocks finishing mostly down on weak Chinese economic data. The Hang Seng Index rose 1.29 percent, or 256.60 points, to 20,206.81. South Korean shares rose on Tuesday, led by heavyweight Samsung Electronics, as the easing of some Covid-19 curbs in China supported appetite.
Oil prices open lower
Oil prices opened lower in early Asian trade on Tuesday after the European Union's efforts to enact a ban on Russian oil imports, a move that would tighten global supply, ran into resistance from member country Hungary.
Brent crude futures fell 35 cents, or 0.3%, to $113.89 a barrel at 0004 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 52 cents, or 0.5%, to $113.68 a barrel.