The Indian equity benchmarks are set to open lower on Monday as indicated by the Nifty Futures on Singapore Exchange amid weak global cues.
SGX Nifty Update
The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 0.7 per cent or 125 points to 17,771.
Asian Markets
Asian markets were trading lower with Janpan's Nikkei down 0.71 per cent, Hong Kong's Hang Seng fell 2.55 per cent and Taiwan Weighted declined 1.25 per cent.
US Markets
Stocks ended mostly lower after another day of drifting around Friday, leaving the market with its first losing week in the last four. Gains for energy companies were offset by declines in tech stocks.
On Friday:
The S&P 500 fell 11.93 points, or 0.3 per cent, to 4,488.28.
The Dow Jones Industrial Average rose 137.55 points, or 0.4 per cent, to 34,721.12.
The Nasdaq fell 186.30 points, or 1.3 per cent, to 13,711.
For the week:
The S&P 500 fell 57.58 points, or 1.3 per cent.
The Dow fell 97.15 points, or 0.3 per cent.
The Nasdaq fell 550.50 points, or 3.9 per cent.
Gold and Crude Oil Price Check
Benchmark U.S. crude oil for May delivery rose $2.23 to $98.26 a barrel Friday. Brent crude for June delivery rose $2.20 to $102.78 a barrel.
Gold for June delivery rose $7.80 to $1,945.60 an ounce. Silver for May delivery rose 9 cents to $24.82 an ounce and May copper rose 3 cents to $4.73 a pound.
The dollar rose to 124.37 Japanese yen from 123.97 yen. The euro rose to $1.0885 from $1.0879.
Foreign Flows
Foreign institutional investors (FIIs) sold shares worth Rs 575 crore on Friday and domestic institutional investors sold shares worth Rs 16.51 crore.
Earnings On April 11
Tata Consultancy Services, Delta Corp, Birla Tyres, Hathway Bhawani Cabletel and Rolta India will report their March quarter earnings.
Tata Steel
The company received order from National Company Law Tribunal, Kolkata Bench, approving the Resolution Plan submitted by Tata Steel Mining Limited, a wholly owned subsidiary of Tata Steel Limited, for acquisition of Rohit Ferro-Tech Limited.
Reliance Capital
Differences have emerged between the lenders and the RBI-appointed administrator of debt-ridden Reliance Capital Ltd (RCL) over the resolution process of the company's different subsidiaries or clusters which are on the block, news agency PTI reported citing sources. As many as 54 bids were received for the resolution of RCL and its multiple subsidiaries as of March 25, which was the last date for submission of Expressions of Interest (EoI).
Sobha
Bengaluru-based realty firm Sobha Ltd's sales bookings rose by 23 per cent to its all-time high of Rs 3,870.2 crore during the 2021-22 financial year on higher volumes driven mainly by low-interest rates on home loans. According to a quarterly operational update, the company's sales bookings in volume terms increased by 22 per cent to 49,09,567 square feet during the last fiscal from 40,13,581 square feet in the 2020-21 fiscal year.
Shoppers Stop
The company has completed the further sale of 19.50 per cent of stake of the Company in Crossword on Friday. Accordingly, the Company's equity stake in Crossword stands reduced to 29.50 per cent. You are requested to take the same on your records.
Tata Motors
Jaguar Land Rover retail sales for the three-month period to March 31, 2022 continued to be constrained by the global semiconductor shortage. However, the Company saw a gradual improvement in chip supply leading to improved production and wholesale volumes compared to the previous quarter. This is expected to continue through the next fiscal year.
Underlying demand for Jaguar Land Rover products remains strong with record orders in the quarter.
Wholesale volumes were 76,526 units and production volumes were 82,722 units in the period (both excluding China Joint Venture), up 11 per cent and 15 per cent respectively compared to the previous quarter ending 31 December 2021. Compared to the previous quarter, wholesale volumes were up by 23 per cent for Defender, 14 per cent for Range Rover Sport and 29 per cent for Discovery. The quarter was also noteworthy for the first deliveries of the New Range Rover, with 1,910 wholesales with the prior model now running out.
