The Indian equity benchmarks are set to open higher on Thursday as indicated by the Nifty Futures on Singapore Exchange amid strong global cues ahead of weekly expiry of index futures and option contracts. On Wednesday, the Sensex and Nifty snapped their 5-day losing streak led by gains in index heavyweights like Reliance Industries, HDFC Twins, Infosys and TCS.
SGX Nifty Update
The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 0.57 per cent or 99 points to 17,245.
Asian Markets
Most of the Asian markets were trading higher with Japan's Nikkei rising 1.07 per cent, Taiwan Weighted up 0.15 per cent and South Korea's KOSPI up 0.62 per cent.
US Markets
Wall Street’s major stock indexes ended mixed Wednesday after another day of choppy trading, while Netflix lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead.
The S&P 500 slipped 0.1 per cent after a late-afternoon fade, while the Nasdaq fell 1.2 per cent. The Dow Jones Industrial Average rose 0.7 per cent, having received a bump from IBM, which added 7.1 per cent after reporting quarterly results that beat analysts’ estimates.
Netflix slumped 35.1 per cent a day after the streaming giant reported its first decline in subscribers in more than a decade. The company also said it expects a steeper decline during the current quarter. Netflix is now considering changes that it has long resisted, including minimizing password sharing and creating a low-cost subscription option supported by advertising. The stock is now down 67 per cent from the all-time high it reached in November.
Gold and Crude Oil Price Check
Benchmark U.S. crude oil for May delivery rose 19 cents to $102.75 a barrel Wednesday. Brent crude for June delivery fell 45 cents to $106.80 a barrel.
Gold for June delivery fell $3.40 to $1,955.60 an ounce. Silver for May delivery fell 12 cents to $25.27 an ounce and May copper fell 7 cents to $4.65 a pound.
The dollar fell to 127.80 Japanese yen from 128.77 yen. The euro rose to $1.0842 from $1.0790.
Russia-Ukraine War Update
The Luhansk governor said Russian forces now control 80 per cent of the region, which is one of two regions that make up the Donbas in eastern Ukraine.
One of Russia’s stated goals is to expand the territory in the Donbas under the control of Moscow-backed separatists.
Before Russia invaded on Feb. 24, the Kyiv government controlled 60 per cent of the Luhansk region.
Gov. Serhiy Haidai said the Russians, who renewed their offensive this week in eastern and southern Ukraine, have strengthened their attacks in the Luhansk region.
After seizing Kreminna, Haidai said the Russians now are threatening the cities of Rubizhne and Popasna and he has urged all residents to evacuate immediately.
The Donetsk region, also part of the Donbas, has seen extremely heavy fighting as well — particularly around the port city of Mariupol.
Foreign Flows
Foreign institutional investors (FIIs) sold shares worth Rs 3,009 crore on Wednesday while domestic institutional investors bought shares worth Rs 2,646 crore.
HCL Technologies, Nestle india, CRISIL India and Sasken Technologies will report their March quarter earnings today.
TCS
Tata Consultancy Services, the largest provider of IT services to the banking, financial services, and insurance (BFSI) industry worldwide, announced that it is now a Microsoft Cloud for Financial Services partner.
Tata Elxsi
Technology services firm Tata Elxsi on Wednesday posted a 38.9 per cent increase in net profit at Rs 160 crore in the fourth quarter ended March 2022.
The company had registered a net profit of Rs 115.16 crore in the year-ago period.
The income from operations grew by 31.5 per cent to Rs 681.73 crore during the quarter from Rs 518.39 crore in March 2021 quarter.
For the year ended March 2022, Tata Elxsi's net profit grew 49.3 per cent to Rs 549.67 crore from Rs 368.12 crore a year ago.
Infosys
The company has completed acquisition of digital experience and marketing agency, oddity.
Atul Auto
The company has joined hands with Valeo and Honda Power Pack Energy India for electric vehicles with battery swapping solution.
