India’s equity benchmarks are set to open a gap as indicated by Nifty Futures traded on the Singapore Exchange. Nifty futures on the Singapore Exchange also known as SGX Nifty Futures rose 55 points, or 0.3%, to 18,194 amid positive signals from other Asian markets. Japan’s Nikkei was up 0.22%, Hong Kong’s Hang Seng was up 0.87%, Taiwan’s Weighted was up 0.3% and the Shanghai Composite was up 0.3%.
Overnight, the dollar climbed to a 16-month high on Monday while US stocks fell slightly as investors looked for a clearer economic picture.
Persistent concerns that inflation could rise stronger and last longer than initially expected have weighed on Wall Street, with pessimism weighing on stocks and oil and pushing safe havens like US dollar up.
The Dow Jones Industrial Average fell 0.04%, the S&P 500 ended flat and the Nasdaq Composite fell 0.04%.
The MSCI World Equity Index, which tracks stocks in 45 countries, was up 0.08%.
Investors will likely keep a close eye on new data on US retail sales on Tuesday, after Friday’s report showed consumer sentiment hit a decade low, in part due to inflation.
Back home, foreign institutional investors bought shares worth Rs 425 crore on Monday and domestic institutional investors bought shares worth Rs 1,525.
The Indian Railways and Travels Corporation (IRCTC) will be the focus after the company has partnered with the Sattvik Council of India to obtain certification for the cooking, transport and storage of vegetarian specialty foods. Specializes in trains to religious sites with Rail’s serving branch is inviting a third party to inspect their facility kitchens where food is cooked to ensure a vegetarian environment.
Bharti Airtel will be on the radar of investors after the major telecom group partnered with US-based Mavenir to test a fifth-generation or 5G-based open radio access network (Open RAN) in mmWave and mid-band at Chandigarh tri-city.
