The Indian equity benchmarks are set to open higher as indcated by the Nifty Futures on Singapore Exchange despite weak cues from other Asian markets. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 00.2 per cent or 31 points to 17,222.
Asian Markets
Asian shares and oil prices both slid on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while the yen extended its stomach-churning descent as the Bank of Japan acted to keep local yields near zero.
China's financial hub of 26 million people told all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days.
The spread of restrictions in the world's biggest oil importer saw Brent skid $3.26 to $117.39, while U.S. crude fell $3.37 to $110.53, news agency Reuters reported.
US Markets
Major U.S. indexes closed mostly higher Friday, and several of them notched weekly gains, despite a recent run of daily swings on Wall Street as traders try to figure out what’s next for the economy.
The S&P 500 index rose 0.5 per cent after spending the day veering between a gain of 0.6 per cent and a 0.4 per cent decline. The Dow Jones Industrial Average rose 0.4 per cent, while the Nasdaq composite fell 0.2 per cent.
The indexes alternated nearly every day this week between gains and losses. Investors are trying to suss out what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out.
The benchmark S&P 500 posted a 1.8 per cent gain for the week. That follows a 6.2 per cent rise last week. The tech-heavy Nasdaq and Dow have also posted a weekly gain now the past two weeks.
Russia-Ukraine War Update
At the Academy Awards ceremony in Los Angeles on Sunday night, attendees expressed support for Ukraine by going silent for 30 seconds.
A tribute that started with words from the Ukrainian-born Mila Kunis ended with the Academy Awards fading to black about midway through the show, with a plea for anyone watching to do whatever possible to send help to those in the war-torn nation.
“We’d like to have a moment of silence to show our support for the people of Ukraine currently facing invasion, conflict and prejudice within their own borders,” read the screen. “While film is an important avenue for us to express our humanity in times of conflict, the reality is millions of families in Ukraine need food, medical care, clean water and emergency services. Resources are scarce and we — collectively as a global community — can do more.”
Foreign Flows
Foreign institutional investors sold shares worth Rs 1,507 crore on Monday while domestic institutional investors bought shares worth Rs 1,373 crore.
