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Market LIVE updates: Nifty may open around 16,500 as SGX Nifty slips 100pts

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Live market updates: The key benchmark indices are likely to start Monday’s session on a muted note as per trends indicated by the SGX Nifty futures, which were quoting 16,677 levels this morning, 20-odd points up from Nifty futures previous close. 

The market will also be tracking global developments on the Russia-Ukraine war and its impact on the global economy including that of India. 

Meanwhile, President Vladimir Putin has ordered his defence chiefs to put the country’s deterrence forces on high alert as he accused Western countries of taking ‘unfriendly’ steps against his country amid Ukraine’s invasion. 

The US and its key allies, including the EU and the UK, have decided to disconnect key sanctioned Russian banks from the global financial system SWIFT and impose restrictive measures on its central bank. 

Back home, investors will also take note of  key macro data to be released today. The government will be announcing the January infrastructure output and the Q3 GDP numbers later in the day.

Among stocks, Bharti Airtel may be eyed as reports said  the company is going to buy a 4.7 percent stake in Indus Towers, from Vodafone. It has entered into an agreement with Euro Pacific Securities, an affiliate of Vodafone Group Plc for the acquisition of a stake in the tower infrastructure company.


Global Cues

The US markets on Friday logged their biggest single-day gain since November 2020, as investors flocked to buy beaten down shares. Dow Jones rallied 2.5 per cent, the S&P 500 surged 2.2 per cent and the Nasdaq gained 1.6 per cent.


Crude Oil prices slipped a wee bit in trades on Friday. Brent oil was down 1.2 per cent at $97.93 a barrel, while WTI crude settled 1.3 per cent lower at $91.59 a barrel.

Major markets in Asia rebounded into the positive zone after starting trade in the negative zone this morning. Kospi and Nikkie were up 0.3 per cent each. Shanghai and Hang Seng were unmoved, while Straits Times was down 0.4 per cent.

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