MARKET LIVE: Gap-down open likely for Sensex, Nifty amid sour global cues

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The key benchmark indices may have a negative start on Monday amid weak global sentiment and concerns around steeper rate hikes by the US Fed. 

Fed Chair Jerome Powell’s comments that a 50-bps rate hike in May remains on the table battered domestic and global equities Friday.

The and snapped their two-day positive streak and closed 1.27 per cent and 1.23 per cent lower, respectively, on Friday. 

Investors will continue to assess the geo-political situation this week as commodity prices remain elevated. First quarter GDP data from the US and Europe that will be released over Thursday-Friday will also be monitored. 

That apart, stock specific action will be in focus during the week as Nifty50 companies including Wipro, HUL, Maruti Suzuki, Bajaj Auto, among others, announce their Q4 numbers.

Today, Tatva Chintan Pharma, Century Textiles, Eveready Industries, GMDC and Mahindra CIE Automotive are among those slated to post their respective Jan-Mar earnings. 
Global cues




In the US, the Dow Jones suffered its biggest one-day loss since 2020 closing 2.8 per cent lower. The S&P 500 also fell 2.8 per cent and Nasdaq declined 2.6 per cent.


Tracking this, Asian stocks were mostly down this morning. Hang Seng and Nikkei fell up to 2 per cent. Strait Times, Shenzhen Component and Kospi were down up to 1.4 per cent. Shanghai Composite was marginally up.

Meanwhile, oil prices extended losses in early trade. and WTI futures fell 2.6 per cent each to $104 and $99 a barrel, respectively.



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