Market LIVE: SGX Nifty is up 100 pips, indicating a higher open on steady global signals

It is likely to start positive on Tuesday after rising as much as 2 per cent the day before. SGX

Futures were priced at 18,193 levels at 8am, indicating a gap of 100 pips on NIfty50.

Monday’s market rally was led by major financial firms HDFC Bank and HDFC after the two announced a merger deal, in what would become a massive banking entity in India.

This apart, today the markets are likely to see a specific stock move along with developments regarding the conflict between Russia and Ukraine.

US President Joe Biden said Putin could face a war crimes trial as he condemned alleged atrocities committed against civilians in Ukraine. He added that the United States would impose additional sanctions on Russia.

Back home, among the stocks, SBI cards The focus may be as private equity firm Carlyle Group is said to be selling its entire stake in the company for up to Rs 2,558 crore. CA Rover Holdings, the Carlyle entity, which owned a 3.09 percent stake in SBI Cards as of the December quarter of 2021, will sell its entire stake through block trading.

Zomato Also will be seen as The Competition Commission on Monday ordered a detailed investigation against food delivery platforms Zomato and Swiggy, for alleged unfair trade practices in connection with their dealings with restaurant partners.

global signals

US markets rose on Monday, led by technology shares, especially Twitter after Elon Musk revealed that he owns 9 percent of the social media giant’s shares. However, the general atmosphere was cautious amid talks about further sanctions against Russia. The Dow Jones rose 0.3 percent, the Standard & Poor’s 500 rose 0.8 percent, and the Nasdaq rose 1.9 percent.

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