Partner With Us NRI

Market may open slightly higher

Published on Feb 28, 2022 08:32

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Monday as investors monitor the Russia-Ukraine crisis and related sanctions. Taiwan markets are closed for a holiday on Monday.

Russia continued its advance into Ukraine over the weekend, with reports of fighting on the streets and forces encircling Kyiv. President Vladimir Putin on Sunday put his country`s deterrence forces, which reportedly include nuclear capabilities, on high alert in response to international backlash to Russia`s invasion.

The U.S. and its allies announced new sanctions and measures to hit Russia, such as removing selected Russian banks from the interbank messaging system, SWIFT. Many countries have also said they will close their airspace to Russian aircraft.

On the diplomatic front, representatives from the Ukraine and Russian governments have agreed to meet at the Ukraine-Belarus border with no preconditions, as per reports. Belarus, which shares a border with both Ukraine and Russia, has close ties with Moscow.

US stocks climbed Friday as investors continued to assess the financial risks stemming from Russia`s invasion of Ukraine.

On the data front, the Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 2.1% last month after falling 0.8% in December.

Domestic markets:

Back home, the domestic stock market ended with robust gains on Friday amid positive global cues. The S&P BSE Sensex, surged 1,328.61 points or 2.44% to 55,858.52. The Nifty 50 index jumped 410.45 points or 2.53% to 16,658.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,470.70 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,318.24 crore in the Indian equity market on 25 February, provisional data showed.

Powered by Capital Market - Live News