Live Market: Muted start likely with SGX Nifty up 50 pips amid weak signals

Major benchmark indices are likely to start trading on Friday with nominal gains according to the trends indicated by the SGX.

Futures, which was quoting 17,290 levels at 8 am, indicating an opening gain of 50 single pips on the

Markets ended the previous volatile session with marginal losses as investors continue to wait and watch amid uncertainty over the Russia-Ukraine war.

Markets will be closely watching the last day of the EU summit meetings for any clues regarding a possible ban on Russian energy imports. Meanwhile, US President Biden has warned that the US will respond to Russia if Putin uses chemical or biological weapons.

Back home, in the primary market, the public offering to follow Ruchi Soya was subscribed to 12 percent at the end of the first day of the show period.

Among the stocks today, Axis Bank will be in focus as the Securities and Exchange Board of India (Sebi), on Thursday imposed a fine of Rs 5 lakh on Axis Bank for breaching Merchant Banking (MB) regulations. It goes back to between August 2016 and August 2019.

Apart from that, oil retailers will also be on the radar as petrol and diesel prices are up again today by an extra 80 pounds.

Major markets in Asia showed a mixed trend on Friday morning. The Hang Seng and Shanghai Composite Index fell 0.9 percent and 0.6 percent, respectively. The Nikkei, Kospi and Taiwan were down 0.1-0.3 percent each. However, Straits Times stock rose 0.5 percent.

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