Market LIVE: Muted open on cards as Asian shares slip; SGX Nifty up 50 pts

Stock market live updates: The key benchmark indices are likely to start Monday’s session with nominal gains. The SGX Nifty futures were quoting at 17,260 levels at 7:45 am, hinting at a opening gain of 70-odd points for the Nifty50 index. 

On Friday, the markets ended a range-bound session in the red. The BSE Sensex shed 233 points and Nifty50 closed 70 points lower at 17,153. 

Volatility may continue into the new week as well due to the monthly expiry of March derivative contracts and developments around the Russia-Ukraine war.The two sides will likely hold talks again between March 28-30 in Turkey. 

Investors will also monitor auto sales data to be released on Friday, along with the fiscal deficit and infrastructure output numbers for February that will be announced on Thursday.

This apart, among stocks, PVR and Inox Leisure will be in focus today as the two companies have approved an amalgamation plan. The combined entity will be named as PVR Inox and the shareholders of Inox Leisure will receive three shares in PVR for every 10 shares.

FMCG major Emami will also be on the radar as the company has announced the acquisition of “Dermicool” – one of the leading brands in the prickly heat powder and cool talc segment – from Reckitt for a total consideration of Rs 432 crore (excluding taxes and duties).

Global cues

Consequently, Asian shares were under pressure this morning. The Nikkei slipped 0.77 per cent, while Hang Seng shed 0.8 per cent. Shanghai Composite and Shenzhen Component were down up to 1.6 per cent. Kospi fell 0.5 per cent. 

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