The domestic equity market is likely to open in red as indicated by SGX Nifty and on global cues.
Nifty futures on the Singapore Exchange traded 197.5 points, or 1.20 per cent, lower at 16,222.50, signaling that Dalal Street was headed for a negative start on Monday.
Asian markets got off to a shaky start on Monday as US stock futures took an early skid on Fed rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession.
Back home, traders will react to Reliance earnings amid ample primary market action. Campus Activewear will make its debut today, whereas LIC IPO will close for subscription.
The market fell 1.6 per cent on Friday and remained under intense selling pressure in three out of four trading sessions in the truncated week. The BSE Sensex tanked 867 points to 54,836 and the Nifty50 fell 271 points to 16,411, while the Nifty Midcap 100 and Smallcap 100 indices have fallen 1.8 per cent and 2.5 per cent respectively.
Stocks in News
Mindtree, L&T Infotech, Tata Power Company, Reliance Industries, Campus Activewear will make its debut on the BSE and NSE today, HCL Tech, Go Fashion India, Hariom Pipe Industries
FII and DII data
There was an intense selling pressure by foreign institutional investors (FIIs) on Friday as they have net offloaded shares worth Rs 5,517.08 crore. However, domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 3,014.85 crore worth of shares on same day.
Asian markets got off to a shaky start on Monday as U.S. stock futures took an early skid on rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession.
S&P 500 stock futures led the way with a drop of 0.6%, while Nasdaq futures shed 0.7%. U.S. 10-year bond futures also lost 8 ticks. Nikkei futures were trading at 26,745 compared to a cash close of 27,003 on Friday.
Results on May 9
PVR, Godrej Agrovet, Dalmia Bharat, Gujarat Narmada Valley Fertilizers & Chemicals, Borosil, Central Bank of India, Vedant Fashions, Suven Pharmaceuticals will release quarterly earnings on May 9.