The Indian equity benchmarks are set to open a gap-up opening as indicated by the Nifty Futures traded on the Singapore exchange amidst cues from global markets. The SGX Nifty also known as SGX Nifty Futures rose 0.61 per cent or 105 points to 17,387 on Monday.
Here are the key things to know before markets open on Monday.
Asian markets were trading on a cautious note, as the Russian invasion of Ukraine entered day 24 on Monday. Japan’s Nikkei remained shut. Hong Kong’s Hang Seng advanced 0.09 per cent and was trading at 21,432. Singapore’s KOSPI declined 0.27 per cent.
On Friday, the stocks were trading higher, notching their biggest weekly gains in 16 months, US President Joe Biden and his Chinese counterpart Xi Jinping had a talk about the talk regarding the ongoing Russia-Ukraine crisis. The S&P 500 surged 1.17 per cent on Friday. The Dow Jones Industrial Average rose 0.8 per cent and the Nasdaq composite rose 2.05 per cent. All three indices had their best week since November 2020.
Russia-Ukraine War Update
On Sunday, the tensions between Russia and Ukraine escalated after Russia aggressively bombarded Ukraine’s port city of Mariupol. Ukraine’s President Volodymyr Zelensky accused Russia of war crimes over its siege, describing the attack on the city as “a terror that will be remembered for centuries to come.” In his nightly address to the nation, Zelenskyy said Ukraine is interested in peace, and that ongoing talks with Russia are “necessary.”
Japan To Invest $42 Billion In India
In a televised press statement on Saturday, Japan’s Prime Minister Fumio Kishida said that Japan will invest $42 billion in India over the period of next five years to boost bilateral trade between the two countries.
Kishida met Prime Minister Narendra Modi on Saturday. This was Kishida’s maiden visit to India after assuming office. Japan and India are part of 'the Quad' nations along with Australia and the USA, which are countering China's presence in the Asia-Pacific region.
Foreign Institutional Investors (FII) bought shares worth Rs 2,800 crores, whereas Domestic Institutional Investors sold shares worth Rs 678 crore on March 17.
(With inputs from agencies)