Market LIVE: Sensex, Nifty may open with nominal gains as global cues mixed


: The key benchmark indices are likely to start Wednesday’ session on a mildly positive note after closing the previous session lower for a fifth day. 

As per trends indicated by the SGX futures, which were quoting at 17,022 around 8 am, the may open with a gain of 50-odd points. 

In other news, the Inyternational Monetary Fund has slashed its FY23 GDP growth forecast for India to 8.2 per cent from 9 per cent, saying that higher commodity prices will weigh on private consumption and investment. 

That said, investors will continue to monitor developments on the Russia-Ukraine conflict and likely impact on commodity prices. 


Today, Tata Elxsi, Angel One, and ICICI Securities are among those slated to release their Q4 earnings.

While, telecom stocks will also be in focus after and reported month on month decline in wireless subscribers while Airtel showed gains in February. Read here

 

Global cues

On Tuesday, US rose sharply higher in a broad-based rally amid heavy earnings. The Dow Jones gained 1.45 per cent, the S&P 500 rose 1.61 per cent and the Nasdaq surged 2.15 per cent.


Equities held ground despite the 10-year treasury yield touching 2.94 per cent, its highest since 2018.


However, the US stock futures were in the red zone in early trade as Netflix tanked 25 per cent in post market hours on reporting subscriber loss for the first time in over a decade.


Brent crude and WTI fell 5.2 per cent each to close at $107.25 and $102.56 per barrel on demand concerns after the International Monetary Fund (IMF) cut its global growth forecasts.

Asian exhibited mixed trends this morning, with Nikkei and Strait times up to 0.7 per cent higher. Hang Seng, Shanghai Composite, Shenzhen Component opened muted, while Kospi fell 0.5 per cent.





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