Key Things To Know Before Market Opens On Monday

The Indian equity benchmarks are set to open lower on Monday as indicated by the Nifty Futures on Singapore Exchange amid weak global cues.

Here are key things to know before market opens on Monday:

SGX Nifty Update

The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 0.23 per cent or 39 points to 17,290.

Asian Markets

Most of the Asian markets were trading lower with Japan's Nikkei down 1.87 per cent, Taiwan Weighted down 0.13 per cent and South Korea's KOSPI falling 0.02 per cent.

US Markets

Stocks closed lower on Wall Street Thursday as investors gave mixed reviews to earnings from four of the nation’s largest banks.

The yield on the 10-year Treasury rose as inflation worries continue to overhang the markets. Investors again turned their attention to the drama surrounding Tesla CEO Elon Musk and Twitter. Musk offered to buy the social media company two weeks after revealing he’d accumulated a 9 per cent stake.

On Thursday:

The S&P 500 fell 54 points, or 1.2 per cent, to 4,392.59.

The Dow Jones Industrial Average fell 113.36 points, or 0.3 per cent, to 34,451.23.

The Nasdaq fell 292.51 points, or 2.1 per cent, to 13,351.08.

The Russell 2000 index of smaller companies fell 20.12 points, or 1 per cent, to 2,004.98.

For the week:

The S&P 500 is down 95.69 points, or 2.1 per cent.

The Dow is down 269.89 points, or 0.8 per cent.

The Nasdaq is down 359.92 points, or 2.6 per cent.

The Russell 2000 is up 10.42 points, or 0.5 per cent.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for May delivery rose $2.70 to $106.95 a barrel Thursday. Brent crude for June delivery rose $2.92 to $111.70 a barrel.

Gold for June delivery fell $9.80 to $1,974.90 an ounce. Silver for May delivery fell 33 cents to $25.70 an ounce and May copper rose 1 cent to $4.72 a pound.

Russia-Ukraine War Update

Ukrainian fighters who were holed up in a massive steel plant in the last known pocket of resistance inside the shattered city of Mariupol ignored a surrender-or-die ultimatum from Russia on Sunday and held out against the capture of the strategically vital port.

The fall of Mariupol, the site of a merciless 7-week-old siege that has reduced much of the city to a smoking ruin, would be Moscow’s biggest victory of the war and free up troops to take part in a potentially climactic battle for control of Ukraine’s industrial east.

Capturing the southern city would also allow Russia to fully secure a land corridor to the Crimean Peninsula, which it seized from Ukraine in 2014, and deprive Ukraine of a major port and its prized industrial assets.

Foreign Flows

Foreign institutional investors (FIIs) sold shares worth Rs 2,061 crore on Monday while domestic institutional investors bought shares worth Rs 1,411 crore.

Stocks In Focus: Infosys, HDFC Bank, ICICI Prudential Life Insurance

Infosys

India's second largest IT company Infosys has announced its fourth-quarter results on Wednesday.

The consolidated net profit rose 12 per cent to Rs 5,686 crore for the March quarter. It was Rs 5,076 crore in corresponding quarter of the pervious fiscal.

The revenue for the period under review comes in at Rs 32,276 crore, up 20 per cent year-on-year and 1.2 percent quarter-on-quarter.

The company's revenue from operations rose 23 per cent to Rs 32,276 crore in the fourth quarter as against Rs 26,311 crore a year ago.

HDFC Bank

HDFC Bank, the country's largest private sector lender, on Saturday reported net profit of Rs 10,055 crore for quarter ended March 2022 marking an increase of 23 per cent from Rs 8,186.51 crore during the same period last financial year. Jump in profit came on the back of sharply lower provisioning for non-performing assets (NPAs). Its provisions declined 29 per cent annually to Rs 3,312 crore from Rs 4,694 crore in the year ago period.

HDFC Bank's net interest income or the difference between interest earned on loans and interest expended on deposits advanced 10 per cent to Rs 18,872.74 crore from Rs 17,120 crore in the same quarter last year.

ICICI Prudential Life insurance

ICICI Prudential Life Insurance on Saturday posted over two-fold jump in its net profit to Rs 185 crore for the January-March quarter on account of robust growth in new business.

The company had posted a profit after tax of Rs 64 crore for January-March FY2021, ICICI Prudential Life Insurance said in a regulatory filing.

For the full year 2021-22, the company's net profit declined to Rs 754 crore from Rs 960 crore for the year ended in March 2021, it said.