Market LIVE: SGX Nifty up 100 pts, hints at higher open on firm global cues

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are likely to start on a positive note on Tuesday after rallying up to 2 per cent the previous day. The SGX

futures were quoting at 18,193 levels at 8am, hinting at a gap-up open of 100 points on the NIfty50.

Monday’s market rally was driven by financial majors HDFC Bank and HDFC after the two announced a merger deal, in what would become a mega banking entity in India.

This apart, markets are likely to witness stock specific action today along with developments on the Russia-Ukraine conflict.

US President Joe Biden has said Putin could face a war crime trial as he condemned alleged atrocities committed against civilians in Ukraine. He added that the US would impose additional sanctions against Russia.

Back home, among stocks, SBI Cards may be in focus as private equity firm Carlyle Group is said to sell its entire stake in the company for as much as Rs 2,558 crore. CA Rover Holdings, a Carlyle entity which, as of December 2021 quarter, held 3.09 percent stake in SBI Cards, will sell its entire stake through a block trade.

Zomato too will be eyed as the Competition Commission on Monday ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.

Global cues

The US markets gained on Monday led by tech shares, mainly Twitter after Elon Musk revealed holding a 9 per cent stake in the social media giant. However, the overall mood was cautious amid talks of more sanctions on Russia. The Dow Jones edged 0.3 per cent higher, the S&P 500 added 0.8 per cent and the Nasdaq rallied 1.9 per cent.

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