The Indian equity benchmarks are set to open on a flat note on Friday as indicated by the Nifty Futures on Singapore Exchange amid weak global cues ahead of RBI's monetary policy decision. Analysts will keenly watch out for the Reserve Bank of India's monetary policy decision on interest rates amid rising inflation, analysts said. On Thursday, benchmarks fell for third straight session
Here are key things to know before market opens on Thursday
SGX Nifty Update
The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 0.06 per cent or 10 points to 17,748.
RBI's Decision Day Guide
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The Reserve Bank of India (RBI) will announce the first monetary policy of the new financial year on Friday amid concerns over rising inflation and as per analysts, it is likely to retain accommodative stance.
Experts are of the view that against the backdrop of rising inflation, the RBI is likely to keep the key repo rates unchanged.
Despite spiralling inflation, the Reserve Bank is likely to hold all key rates and retain the accommodative stance at the forthcoming policy review later this week, PTI quoted a Wall Street brokerage.
Asian Markets
Asian markets were mostly trading lower as the prospect of aggressive global rate hikes finally began to rattle investors. Japan's Nikkei fell 0.25 per cent, Hong Kong's Hang Seng declined 1 per cent and Singapore's Straits Times dropped 0.5 per cent
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US Markets
A late-afternoon rebound led by technology companies helped drive stocks higher on Wall Street Thursday, lifting the market from an early slide.
The S&P 500 rose 0.4 per cent, its first gain after a two-day slump. The benchmark index is still on pace for its first weekly loss in four weeks.
The Dow Jones Industrial Average rose 0.3 per cent and the tech-heavy Nasdaq managed a 0.1 per cent gain. Crude oil prices edged lower and bond yields rose.
Gold and Crude Oil Price Check
Benchmark U.S. crude oil for May delivery fell 20 cents to $96.03 a barrel Thursday. Brent crude for June delivery fell 49 cents to $100.58 a barrel.
Gold for June delivery rose $14.70 to $1,937.80 an ounce. Silver for May delivery rose 28 cents to $24.74 an ounce and May copper fell 4 cents to $4.70 a pound.
The dollar rose to 123.97 Japanese yen from 123.78 yen. The euro fell to $1.0879 from $1.0900.
Foreign Flows
Foreign institutional investors sold shares worth Rs 2,280 crore on Wednesday while domestic institutional investors bought shares worth Rs 623 crore.
Stocks In Focus: Sonata Software, Infosys, Zee Entertainment, Sobha
Zee Entertainment
Invesco Oppenheimer Developing Markets Fund sold 7.43 crore Zee Entertainment shares on Thursday via bulk deals while Segantii India Mauritius and Morgan Stanley Asia Singapore Pte bought 99 lakh and 1.02 crore shares at an average price of Rs 281.10 per share, bulk deal data from BSE showed.
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Sonata Software
The company has appointed Samir Dhir as CEO of the Company with effect from April 8, 2022. Srikar Reddy is voluntarily stepping down as CEO effective close of business hours on April 7, 2022 and will be continuing as Managing Director of the Company.
Infosys
Infosys and Rolls-Royce have extended strategic collaboration with launch of joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru. This centre has been established to provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India. Infosys and RollsRoyce’s collaboration has been reinforced through strategic deals, aimed at yielding mutual benefits to both organisations over the next seven years.
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Sobha Ltd
Sobha Ltd said that during FY-22 the company achieved best ever sales volume and sale value. This is achieved despite operational hurdles at the start of quarter due to Omicron wave. During FY-22, Bengaluru, Pune, Gurugram, and GIFT City regions have shown high growth in terms of sales value & volume which is the highest ever since inception.
