Key Things To Know Before Market Opens On Monday

The Indian equity benchmarks are likely to open higher on Monday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures of Singapore Exchange also known as SGX Nifty Futures rose 173 points or 1.1 per cent to 15,873.

The Indian equity benchmarks rebounded strongly from 52-week lows hit last week to log in their best weekly gain for the current month led by auto, consumer durables, FMCG and information technology shares, data from the National Stock Exchange showed. The Nifty 50 index climbed 2.65 per cent and Sensex advanced 1,367 points or 2.66 per cent. Last week, Nifty 50 and Sensex indices had crashed nearly 6 per cent.

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

Asia Markets

Stocks gained in Asia on Monday amid improved risk sentiment after Wall Street rebounded strongly at the end of last week as oil prices eased, tempering fears of prolonged inflation and the accompanying aggressive Federal Reserve tightening.

Treasury yields remained subdued and the dollar hovered near the lowest in more than a week as investors continued to assess the outlook for U.S. rate hikes, and the potential for a recession.

Japan's Nikkei rose 1.41 per cent, Hong Kong's Hang Seng climbed 2.62 per cent, Taiwan Weighted rose 1.91 per cent and South Korea's KOSPI gained 2.06 per cent.

US Markets

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market’s brutal sell-off this year.

The benchmark index rose 3.1 per cent, with technology and banks leading the broad rally. The S&P 500 notched a 6.4 per cent gain for the week, erasing the brutal loss it took a week earlier, though it’s still close to 20 per cent below its record set early this year.

The Dow Jones Industrial Average rose 2.7 per cent and the tech-heavy Nasdaq ended 3.3 per cent higher. Both indexes also posted a weekly gain that more than made up for their losses last week.

Stocks rallied this week as pressure from rising Treasury yields lets up somewhat and investors speculate the Federal Reserve may not have to be as aggressive about raising interest rates as earlier thought as it fights to control inflation.

Crude Oil and Gold Price Check

Benchmark U.S. crude oil for August delivery rose $3.35 to $107.62 a barrel Friday. Brent crude for August delivery rose $3.07 to $113.12 a barrel.

Gold for August delivery rose 50 cents to $1,830.30 an ounce. Silver for July delivery rose 8 cents to $21.13 an ounce and July copper was unchanged at $3.74 a pound.

Foreign Flows

Foreign institutional investors sold shares worth Rs 2,354 crore on Friday while domestic institutional investors bought shares worth Rs 2,213 crore. 

Rupee Check

The rupee on Friday slipped 1 paisa to close at its all-time low of 78.33 against the US dollar.

At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close.

Stocks In Focus

Coal India: Coal India unit North Eastern Coalfields is in the process of seeking clearances for putting into operation two of its mines in Assam in the current financial year.

The development assumes significance in the wake of efforts being made to avoid the reoccurrence of power outages faced by the country at the beginning of the summer season this year due to the shortage of coal supplies.

ONGC, HPCL: After over five months, Oil and Natural Gas Corporation (ONGC) has finally got a director appointed on the board of Hindustan Petroleum Corporation Ltd -- a firm it had acquired for Rs 36,915 crore.

Infosys: IT company Infosys is transitioning its team of less than 100 people from Russia to projects outside the country, a top official of the company said on Saturday.

Infosys MD and CEO Salil Parekh said that the company is very much in support of peace in the Ukraine-Russia conflict and is supporting every effort to help people that are being impacted by the situation.

IT services firm Infosys gave capital return of over Rs 24,100 crore (about $3.1 billion) in 2021-22 with a total dividend of Rs 31 per share along with share buyback of over Rs 11,000 crore, company's co-founder and chairman Nandan Nilekani said on Saturday. 

While speaking at the 41st Annual General Meeting (AGM) of the company, Nilekani announced that the 2021-22 fiscal has been a year of exceptional growth – 19.7 per cent in constant currency – bringing in $16.3 billion, which is the fastest growth that Infosys has recorded in 11 years.

Dish TV: A total of 78.94 per cent of the votes polled in the Dish TV extraordinary meeting (EGM) were against the resolution to reappoint Jawahar Goel as the Managing Director. 

Goel, who represents the promoter group in Dish TV, could get only 21.05 per vote in favour of his reappointment for three more years, said a regulatory filing by the DTH operator, updating disclosure of voting results of EGM.