The major benchmarks are heading to a muted start in the last session of FY22 (FY22) to track the weak global sentiment. SGX
Futures were priced at 17,590 levels at 8am, indicating a quiet opening 30 single pips gain on the
Ukrainian President Volodymyr Zelensky said that Ukrainian forces are preparing for new Russian attacks in the east of the country as Moscow reinforces its forces there after suffering setbacks near the capital, Kyiv. It comes a day after Russia promised to withdraw its forces from the country, in what appeared to be a sign of a truce.
Local markets are likely to be volatile on Thursday at the expense of the monthly future, options expiration and trading activity associated with the close of the fiscal year.
Regardless, investors will be watching the OPEC+ meeting later today. According to reports, the US is considering freeing up to 180 million barrels of oil over several months from the Strategic Petroleum Reserve (SPR) to lower fuel prices.
Brent crude is down 4 percent in Asian trading this morning on the development.
Back home, in the primary market, Veranda Learning Solutions’ initial public offering closes on Thursday. The public issue has been subscribed 1.3 times to date, with the retail portion receiving bids up to 7 times. The company aims to raise up to Rs 200 crore.
between stock axis bank It will be in focus following the acquisition of Citibank India’s retail business in an all-cash deal of Rs 12,325 crore.
US markets tumbled on Wednesday as Russian forces bombed the outskirts of Kyiv, a day after pledging to scale back operations. The Dow Jones fell 0.2 percent, the Standard & Poor’s shed 0.6 percent and the Nasdaq fell 1.2 percent.
They were seen trading on a lukewarm note. Shares of Hang Sang, Shanghai and Straits Times were down 0.1 percent each. Taiwan’s index fell 0.3 percent, while the Nikkei was almost unaffected. However, the Kospi rose 0.5 percent.