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 1.43 per cent or 245 points to 16,935.

Asian Markets

Most of the Asian markets were trading lower following weak closing of US markets on Friday. Japan's Nikkei fell 1.9 per cent, Taiwan Weighted up 2.5 per cent and Hong Kongs Hang Seng fell 2.6 per cent and South Korea's KOSPI declined 1.6 per cent.

US Markets

Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation.

Several disappointing profit reports from companies also shook what’s been the market’s main pillar of support.

The S&P 500 sank 2.8 per cent and marked its third losing week in a row. The Dow Jones Industrial Average slumped 2.8 per cent, its biggest drop in 18 months, after briefly skidding more than 1,000 points. The Nasdaq also had its worst day in nearly seven weeks, closing 2.6 per cent lower.

A day earlier, Wall Street seemed set for healthy gains for the week after American Airlines, Tesla and other big companies reported strong profits or better forecasts for future earnings than analysts expected. Such corporate optimism has helped stocks remain relatively resilient, even as worries swirl about the highest inflation in decades, the war in Ukraine and the coronavirus.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for June delivery fell $1.72 to $102.07 a barrel Thursday. Brent crude for June delivery fell $1.68 to $106.65 a barrel.

Wholesale gasoline for May delivery fell 3 cents to $3.31 a gallon. May heating oil rose 4 cents to $3.94 a gallon. May natural gas fell 42 cents to $6.53 per 1,000 cubic feet.

Gold for June delivery fell $13.90 to $1,934.30 an ounce. Silver for May delivery fell 36 cents to $24.46 an ounce and May copper fell 12 cents to $4.58 a pound.

The dollar rose to 128.59 Japanese yen from 128.26 yen. The euro fell to $1.0787 from $1.0839.

Russia-Ukraine War Update

A newly released video shows Ukrainian children in an underground bunker receiving Easter presents.

The video was released Sunday by the far-right Azov Battalion, which is among Ukrainian forces at the Azovstal steelworks where soldiers and civilians have been holed up under a Russian attack.

The group’s deputy commander, Sviatoslav Palamar, says the video was shot Sunday at the plant.

One toddler is seen wearing homemade diapers made of cellophane. People are hanging laundry on makeshift hangers.

One of the women in the video begs for help from world leaders and says she and others stuck under the plant are tired of the bombing and are desperate for their freedom.

“We want to live in our city, in our country. We are tired of these bombings, constant airstrikes on our land. How much longer will this continue?” she says through tears.

Foreign Flows

Foreign institutional investors (FIIs) sold shares worth Rs 2,462 crore on Friday while domestic institutional investors bought shares worth Rs 1,602 crore.

ICICI Bank, Nazara Technologies among stocks in focus

ICICI Bank

ICICI Bank's net profit in March quarter jumped 59 per cent to Rs 7,018.71 crore compared with Rs 4,402 crore during the same period last year. Sharp rise in profit came on the back of lower provisioning as its provisions for contingencies fell 63 per cent to Rs 1,069 crore versus Rs 2,883 crore in the year ago period, the country's second largest private lender said in an exchange filing.

ICICI Bank's net interest income or the difference between interest earned on loans and expended on deposits rose 21 per cent to Rs 12,604.56 crore versus Rs 10,431.13 crore in the last financial year.

Nazara Technologies

The company informed exchanges that Nodwin Gaming Private Limited (“Nodwin”), a material subsidiary of Nazara Technologies Limited, has intimated the completion of acquisition of 35 per cent equity stake, on fully diluted basis, of Brandscale Innovations Private Limited (“Brandscale Innovations”) by way of subscription of 567 equity shares having a face value of Rs 100 each for a total consideration of Rs 10 crore.