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MARKET LIVE: Sensex, Nifty likely to start gap-down amid weak global cues

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Market Live: Sensex, Nifty, Russia-Ukraine, Reliance,

Stock market live updates: The markets are likely to start Monday’s trade on a weak note as global sentiment continues to weigh on equities. 

At 7:45 am, the SGX Nifty futures were quoting at 16,215 levels, hinting at an opening loss of 200 points for the Nifty benchmark. 


Crucial macro-economic data such as industrial output and retail inflation reading will be on investors’ radar this week. Big corporate earnings including those of Asian Paints, Cipla, GNFC, Tata Motors, Larsen & Toubro, and Vodafone Idea will also be eyed. 

That apart, markets will also monitor developments around the Russia-Ukraine crisis after the G7 countries consisting France, Canada, Germany, Italy, Japan, Britain and the US on Sunday pledged to phase out their dependency on Russian oil in a timely manner. 

In the primary market, the LIC IPO offer period will close today. The issue has been subscribed 1.79x so far. The policyholder quota has been subscribed over 5x, employee portion 3.8xand retail individual investor quota 1.6x.

Among stocks, shoe brand Campus Activewear will debut on the bourses today. The shares are commanding a premium of around Rs 60 apiece in the unlisted market.  

Bellwether Reliance will also be in focus after the oil-telecom-to-retail major reported a 20.2 per cent year-on-year growth in consolidated profit at Rs 18,021 crore in Q4 led by strong operating income as well as topline. Its revenue in the quarter grew by 35 per cent to Rs 2,32,539 crore. 


Global cues


In the US, stock futures were trading with deep cuts, dropping up to 1.35 per cent after a lower close for Wall Street on Friday. On Friday, the S&P 500 shed 0.57 per cent, the Nasdaq fell 1.40 per cent and the Dow shed 0.30 per cent.  

Asian markets were also weak this morning. Nikkei and Kospi fell 2 per cent each. Strait Times was flat, Shenzhen component and Shanghai composite held mild gains, while markets in Hong Kong will be closed. 



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