The Indian equity benchmarks are likely to open on a positive note on Monday as indicated by the Nifty Futures on the Singapore Exchange. The SGX traded 123 points or 0.75 per cent higher in early trade.
The BSE Sensex rallied 600 points on Friday boosted by IT and banking stocks, whereas the Nifty 50 index advanced 182 points or 1.13 per cent at 16,352.
Breaking a seven-week losing streak, the major indices in the US traded higher on Friday led by heavy buying of technology stocks. The S&P 500 surged 100 points or 2.5 per cent, whereas the Dow Jones Industrial Average advanced 575 points or 1.8 per cent. The Nasdaq composite advanced 390 points or 3.3 per cent.
The major indices in Asia were trading higher on Monday. Japan’s Nikkei 225 advanced 1.82 per cent, whereas Hang Seng surged 1.30 per cent. While South Korea’s KOSPI rose 1.04 per cent, the Shanghai Composite index edged 0.20 per cent. The Shenzhen Composite index advanced 0.64 per cent.
The foreign institutional investors (FII) remained the net sellers worth Rs 1,943 crore on Friday, whereas the domestic institutional investors (DII) remained the net buyers' worth Rs 2,727 crore.
Life Insurance Corporation (LIC), Mahindra and Mahindra, Nykaa, ITC, Jubilant Foods, Aurobindo Pharma, Sun Pharma, SpiceJet, Jindal Steel, Delhivery, Ethos, and Campus Activewear.
The crude oil rose to a two-month high in early trade on Monday as European Union continues to mull over the ban on Russian oil. The Brent crude futures advanced 46 points or 0.4 per cent to $119 per barrel. The US West Texas Intermediate (WTI) crude futures surged 60 cents or 0.5 per cent t0 $115.67 per barrel.
The rupee surged by 3 paise to close at 77.58 against the US dollar.
