Live stock market updates: The major benchmark indices are likely to start Monday’s session flat with SGX Nifty futures trading unchanged at 17,713 levels this morning.
Talks between Russia and Ukraine will continue to be unstable. According to reports, Ukrainian negotiator David Arachhamiya said that peace talks with Russia are at a point that could lead to direct contact between Zelensky and Putin in Turkey.
Regardless, the main events line up this week starting with the manufacturing PMI data due today, followed by the minutes of the FOMC March meeting on Wednesday which investors will keep a close eye on interest rate hike expectations, inflation and the pace of the Fed’s balance sheet American. shorthand.
On Friday, the Reserve Bank of India (RBI) rate announcement remains to be seen. The central bank remains in a conflicting position amid raging inflation and fears of falling behind the curve.
Among the individual stocks, IOC will be on the radar as the oil retailer said on Sunday that it will invest nearly Rs 840 crore in expanding petroleum, oil and lubricant storage capacities, including a new facility in the northeast.
On Friday, US markets managed to close higher despite the less-than-expected employment report in March. The US added 431,000 jobs during the month, versus an estimated 490,000 jobs. And the Dow Jones index rose 0.4 percent, the Standard & Poor’s 500 index 0.34 percent and the Nasdaq 0.3 percent.
Oil prices continued to slide in early trading as investors tracked the worsening Covid-19 outbreak in China eroding demand for crude oil. Brent crude fell about 1% to $103.38 a barrel. West Texas Intermediate crude fell to $98.7 a barrel.
In Asia, indicators struggled to get direction as markets in mainland China remained closed on Mondays and Tuesdays for holidays. Among other things, Hang Seng led the gains, up 0.7 percent. The Nikkei and the Straight Times were flat, while the Kospi was up 0.22 percent.