Market LIVE: Low open on cards as SGX Nifty down 100 pips amid weak signals

Live stock market updates: Markets are likely to start Friday’s session negative amid weak global sentiment as US and European markets posted heavy losses overnight. SGX Nifty futures were priced at 17,430 at 7:55 am, indicating the start of a downward gap of more than 100 pips on the Nifty50.

Globally, Russia signed a decree on transferring gas payments with “unfriendly countries” in rubles. Thus, existing contracts for gas delivery will be suspended if buyers from these countries do not meet the new conditions, which will come into effect from Friday. Hence, fears of supply shortages in Europe are more looming than before.

Markets will be closely watching any further developments on this front.

Back home, among the probably roaring arrows, future retail The focus may be because CEO Sadashiv Nayak has left the troubled company seven months after his appointment; While the group companies were said to have defaulted on payments.

in addition to, Motocorp Champion It will also be considered where the IT department found that Rs 800 crore was misappropriated via shell companies by the company in its investigation.

global signals

US markets fell on Thursday to close the quarter with the biggest quarterly losses in two years amid persistent concerns about the Ukraine war, high inflation and Federal Reserve policy. The Dow, S&P 500 and Nasdaq all fell more than 1.5 percent each.

Oil prices fell sharply after the US announced the largest-ever release (one million barrels per day for six months as of May) from its reserves. Brent crude futures fell 4.8 percent to $107.91 a barrel, and West Texas Intermediate crude fell 5.6 percent to $105.16 a barrel. Meanwhile, OPEC+ stuck to its agreement on a gradual increase in production in May.

Asian markets were largely seen in red on Friday morning. Hang Seng shares fell 1.4 percent. The Nikkei, Kospi and Taiwan were down 0.8-1 percent each. The Shanghai Composite Index fell 0.4 percent. But the Straits Times has been consistent.

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