The key benchmark indices may have a negative start on Monday amid weak global sentiment and concerns around steeper rate hikes by the US Fed.
Fed Chair Jerome Powell’s comments that a 50-bps rate hike in May remains on the table battered domestic and global equities Friday.
The Sensex and Nifty snapped their two-day positive streak and closed 1.27 per cent and 1.23 per cent lower, respectively, on Friday.
Investors will continue to assess the geo-political situation this week as commodity prices remain elevated. First quarter GDP data from the US and Europe that will be released over Thursday-Friday will also be monitored.
That apart, stock specific action will be in focus during the week as Nifty50 companies including Wipro, HUL, Maruti Suzuki, Bajaj Auto, among others, announce their Q4 numbers.
Today, Tatva Chintan Pharma, Century Textiles, Eveready Industries, GMDC and Mahindra CIE Automotive are among those slated to post their respective Jan-Mar earnings.
Global cues
In the US, the Dow Jones suffered its biggest one-day loss since 2020 closing 2.8 per cent lower. The S&P 500 also fell 2.8 per cent and Nasdaq declined 2.6 per cent.
Tracking this, Asian stocks were mostly down this morning. Hang Seng and Nikkei fell up to 2 per cent. Strait Times, Shenzhen Component and Kospi were down up to 1.4 per cent. Shanghai Composite was marginally up.
Meanwhile, oil prices extended losses in early trade. Brent crude and WTI futures fell 2.6 per cent each to $104 and $99 a barrel, respectively.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
