Market LIVE: Gap-up open of 100 pts likely; Brent Crude falls 2% to $110

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Market Live: Sensex, Nifty, Russia-Ukraine war, oil prices, RIL, Tata Power

Stock market live updates: The key benchmark indices are likely to start Tuesday’s session on a positive note supported by a 9 per cent fall in Brent Crude prices overnight. At 8 am, the SGX Nifty April futures were quoting at 17,425 levels, hinting at a gap-up open of 100 points on the Nifty50.

Markets will keenly watch Russia-Ukraine talks in Turkey today for any cues on de-escaltion of the conflict. As per Financial Times, Russia is no longer requesting Ukraine be “denazified” and is ready to let Kyiv join EU if it remains military non-aligned.

In the primary market, the three-day IPO of Veranda Learning Solutions will open today. Company is selling shares at Rs 130-137 apiece to raise up to Rs 200 crore.

Among stocks, PowerGrid will be in focus as the company has approved investment worth Rs 821.3 cr in five projects.

Aurobindo Pharma will also be on the radar as it has acquired the domestic formulation business of another Hyderabad based firm Veritaz Healthcare on a slump sale basis at Rs 171 crore.

Global cues

The US markets ended higher on Monday led by sharp gains in Tesla after the latter announced plans for stock split. Dow Jones gained 0.3 per cent, the S&P 500 added 0.7 per cent and Nasdaq jumped 1.3 per cent.

Oil prices tumbled sharply lower on Monday as China’s financial hub Shanghai launched fresh curbs to control rising Covid-19 infections. Brent crude futures cracked 9 per cent to $109.6 a barrel, and WTI oil tanked 7 per cent to $105.96 a barrel.

On Tuesday, major markets in Asia started trade with marginal gains. Japan’s Nikkei advanced 0.8 per cent. Straits Times added 0.6 per cent. Kospi and Taiwan were up 0.3 per cent each.

Market LIVE: Gap-up open of 100 pts likely; Brent Crude falls 2% to $110

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