The key benchmark indices are likely to open higher on Monday, as indicated by the SGX Nifty and other global cues.
Nifty futures on the Singapore Exchange traded 88 points, or 0.56 per cent, higher at 15,860.50, signaling that Dalal Street was headed for a positive start on Monday.
Last week saw high selling in all five sessions, amid a less-than-expected fall in US inflation print and higher than expected surge in April inflation numbers in the country.
US Stocks
Wall Street stocks rallied on Friday; the Nasdaq Composite Index led the major indices, winning 3.8 per cent to close at 11,805.00. The Dow Jones Industrial Average climbed 1.5 per cent to end the day at 32,196.66, while the broad-based S&P 500 jumped 2.4 per cent to 4,023.89.
Asian Stocks
Tokyo shares opened higher on Monday after Wall Street rebounded. The benchmark Nikkei 225 index gained 1.23 per cent, or 325.72 points, to 26,753.37 at the open. Hong Kong equities opened higher on Monday, the Hang Seng rose 1.17 per cent, or 232.76 points, to 20,131.53. The Shanghai Composite Index saw a slight increase of 0.53 per cent, or 16.27 points, to 3,100.55, while the Shenzhen Composite rose 0.75 per cent, ot 14.45 points, to 1,945.90.
Domestic markets on Friday
Sensex ended the week at 52,793.62, down 2,041.96 points. A total of 26 of 30 index stocks ended lower for the week. Nifty50 tanked 629.10 points for the week to 15,782.15.
Meanwhile, the rupee pared its initial gains and settled 5 paise lower at its fresh lifetime low of 77.55 against the US dollar on Friday.
Foreign investors' relentless selling continues
Foreign portfolio investors (FPIs) remained net sellers for seven months to April 2022, withdrawing a massive net amount of over Rs 1.65 lakh crore from equities.
Oil prices drop
Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia.
Brent crude futures were down 64 cents, or 0.6%, at $110.91 a barrel at 0137 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped 60 cents, or 0.5%, to $109.89 a barrel.
Stocks to watch for today
Eicher Motors, M&M, Tech Mahindra, Indus Tower, Britannia, NTPC, United Spirits, Avenue Supermarts, Nazara Technologies, Maruti Suzuki India
Gold prices
Gold price in India remains unchanged on Monday. The price for 24 carat gold (10 grams) is Rs 50,460 while 22 carat gold (10 grams) is priced at Rs 46,230.
