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LIVE market updates: The key benchmark indices are likely to start Tuesday’s session on a highly negative note as tensions around the Russia-Ukraine conflict continue to mount with global markets continuing to reel under selling pressure.
At 7:45 am, the SGX Nifty March Futures were quoting 17,062 levels, nearly 200 points lower than Nifty March futures spot close the previous day.
Tensions have escalated in the with Russian President Putin recognised two breakaway regions Donetsk and Luhansk in eastern Ukraine as independent entities and described Ukraine as an integral part of Russia’s history. Moreover, some Ukrainian civilians have been killed in frontline shelling over the night, as per reports.
Consequently, global markets have come under huge pressure with frontline indices linked US futures trading in the red along with the Asian peers. Japan’s Nikkei and Hong Kong’s Hang Seng index have slipped 2 per cent each this morning, while Kospi, Shenzhen component and Shanghai Composite shedding over a per cent each.
Oil prices also inched higher with the Brent Crude and WTI Crude rising rose 2 and 3 per cent, respetively and Brent Crude passing the $97 mark.
Back home, today, markets may show weakness in line with bearish global cues and escalating geo-political tensions. Among stocks, NHPC may be eyed as the firm said its 120 MW Sewa-II power station in Mashka in Union Territory of Jammu and Kashmir has resumed power generation. The power station was under complete shutdown from September 25, 2020, due to damage to the Head Race Tunnel.
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