Sensex, Nifty Likely To Have A Negative Opening
The domestic stock markets are likely to open in the red, going by early indications from trading in SGX Nifty. Trends on SGX Nifty indicate a negative opening for the index in India, with a 76-points loss. At 7:30 am, the Nifty futures were trading at 15,747, lower by 76 points or 0.67 per cent, on the Singapore Stock Exchange.
Asian markets were mixed, with multiple major markets in the region closed for holidays. In Japan, Nikkei 225 rose 0.45 per cent and Topix index gained 0.25 per cent
U.S. stocks closed modestly higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.
The Dow Jones rose 0.04 per cent, the S&P 500 gained 0.19 per cent and Nasdaq Composite added 0.35 per cent.
Meanwhile, oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased Covid-19 vaccinations help lift travel curbs.
Brent crude was up 14 cents, or 0.2 per cent, at $72.83 and U.S West Texas Intermediate was also up 14 cents, or 0.2 per cent, at $71.05 a barrel, reaching the highest since October 2018.
In the primary market, the Shyam Metalics IPO and Sona Comstar IPO will open for subscription on Monday.
On the earnings front, Coal India, IDFC, Indian Overseas Bank and Aditya Consumer will declare their Q4 numbers during the day.
On Friday, the BSE Sensex had rallied 174.29 points to close at 52,474.76 and the Nifty climbed 61.60 points to end at 15,799.40.
