Key Things To Know Before Market Opens On Monday

The Indian equity benchmarks are set to ioen marginally lower as indicated by the Nifty Futures traded on Singapore Exchange amid weak cues from other Asian markets.

Here are key things to know before market opens on Monday

SGX Nifty

Nifty Futures traded on Singapore Exchange also known as SGX Nifty Futures fell 30 points or 0.17 per cent to 17,713.

Asian Markets

Asian share markets got off to a cautious start on Monday amid talk of yet more sanctions against Russia over its invasion of Ukraine, while bond markets continued to sound the risk of a hard landing for the U.S. economy as short-term yields surged, news agency Reuters reported.

Russia-Ukraine War Update

The Ukrainian military says that its forces have retaken some towns in the Chernihiv region and that humanitarian aid is being delivered.

The news agency RBK Ukraina says the road between Chernihiv and the capital of Kyiv is to reopen to some traffic later Monday.

Chernihiv is a city 80 miles north of Kyiv and it had been cut off from shipments of food and other supplies for weeks. The mayor said Sunday that relentless Russian shelling had destroyed 70 per cent of the city.

US Markets

Stock indexes ended a bumpy day higher on Wall Street Friday while Treasury yields soared, after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes.

The two-year Treasury yield approached its highest level in more than three years after a report showed the labor market remained strong in February. It again topped the 10-year yield, an unusual event that’s historically been an ominous sign for the economy.

On Friday:

The S&P 500 rose 15.45 points, or 0.3 per cent, to 4,545.86.

The Dow Jones Industrial Average rose 139.92 points, or 0.4 per cent, to 34,818.27.

The Nasdaq rose 40.98 points, or 0.3 per cent, to 14,261.50.

Crude Oil and Gold Price Check

Benchmark U.S. crude oil for May delivery fell $1.01 to $99.27 a barrel Friday. Brent crude for June delivery fell 32 cents to $104.39 a barrel.

Wholesale gasoline for May delivery was unchanged at $3.15 a gallon. May heating oil rose 6 cents to $3.42 a gallon. May natural gas rose 8 cents $5.72 per 1,000 cubic feet.

Gold for June delivery fell $30.30 to $1,923.70 an ounce. Silver for May delivery fell 48 cents to $24.65 an ounce and May copper fell 6 cents to $4.69 a pound.

Foreign Flows

Foreign institutional investors (FIIs) sold shares worth Rs 1,910 crore on Freiday while domestic institutional investors sold shares worth Rs 184 crore.

Wipro, Lupin, Dr Reddy's Labs, Eicher Motors Among Stocks In Focus

Wipro will be in focus after it announced collaboration with University of South Carolina and Indian Institute of Technology, Patna for advanced AI-led Innovation.

Lupin has signed an agreement with Anglo-French Drugs & Industries Limited for acquiring a portfolio of brands (including all rights and interests associated with such products), to strengthen the Company's presence in Vitamins, Minerals & Supplements and CNS segments.

Dr Reddy's Labs has entered into an agreement with Novartis AG to acquire he cardiovascular brand Cidmus in India for total consideration of $61 million.

Eicher Motors will be in focus after Royal Enfield on Saturday reported a 2.45 per cent increase in total sales at 67,677 units in March 2022.

The company had sold 66,058 units in the same month last year, the company said in a statement.

(With agency inputs)