Partner With Us NRI

Weak opening on the cards

Published on Feb 21, 2022 08:28

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 106 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday, as investors continued to watch the situation surrounding Ukraine.

In economic data, China left a benchmark lending rate unchanged. China on Monday held steady on a benchmark lending rate, with the one-year loan prime rate (LPR) kept unchanged at 3.7%. The five-year LPR was also kept unchanged at 4.6%.

Meanwhile, French President Emmanuel Macron and Russian leader Vladimir Putin on Sunday agreed to work for a ceasefire in eastern Ukraine, as per reports. They also agreed on "the need to favour a diplomatic solution to the ongoing crisis and to do everything to achieve one", adding that both countries` foreign ministers would meet "in the coming days".

US President Joe Biden is also willing to meet Russia`s Vladimir Putin "at any time" to defuse Ukraine war tensions, as per reports, warning Russia appeared on the verge of invading its neighbor.

Wall Street ended lower on Friday after escalating tensions in Ukraine and US warnings of a potential Russian invasion prompted investors to dump risky assets in the run-up to a long weekend.

Markets in the U.S. are closed on Monday for a holiday.

Domestic markets:

Back home, the benchmark indices closed with small cuts on Friday, declining for the third straight session. The barometer index, the S&P BSE Sensex, fell 59.04 points or 0.10% at 57,832.97. The Nifty 50 index slipped 28.30 points or 0.16% at 17,276.30.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,529.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,929.08 crore in the Indian equity market on 18 February, provisional data showed.

Powered by Capital Market - Live News