Market LIVE: Positive open likely as SGX Nifty greater; Brent up 3% at $110

The key benchmark indices are likely to begin Monday’s session with modest features as per tendencies indicated by the SGX

Investors proceed to be careful for the developments of the Russia Ukraine battle and the continuing negotiations between the 2. Any futher possiblity of de-escaltion might lend assist as US Fed rate hike has been put behind. 

Moreover, Ukraine’s President Volodymyr Zelenskyy has warned of a ‘third world war’ if ongoing ceasefire talks with Russia fail. While, the US and China additionally seem like on loggerheads as Biden has warned Xi of stringnent motion if China helps Russian invasion of Ukraine. 

In an different signifcant growth, the federal government is engaged on classification of cryptocurrency as items or providers below the GST legislation, in order that tax will be levied on the complete worth of transactions.

Currently, 18 per cent Goods and Services Tax (GST) is levied solely on service offered by crypto exchanges and is categorised as monetary providers.

This aside, amongst shares, Maruti Suzuki shall be within the limelight as its Suzuki Motor introduced on Sunday that it might make investments Rs 10,440 crore to build a brand new electrical automotive and battery manufacturing facility in India. 

Wockhardt may additionally be eyed as the company and Serum Institute of India (SII) have entered right into a profit-sharing association to make 150 million doses of SII vaccines in Wockhardt’s UK plant. 

Global cues

US shares closed greater on Friday as buyers digested Federal Reserve’s curiosity rate hike and uncertainty over the Russia-Ukraine struggle. The Dow Jones rose 0.8 per cent, the S&P 500 gained 1.2 per cent, whereas the Nasdaq jumped 2 per cent.

Brent crude additionally rose 1.2 per cent to shut at $107.93 a barrel on Friday. WTI crude rose 1.7 per cent to $104.70 a barrel.

In Asia, Hang Seng held first rate features, up 0.74 per cent. Shanghai Composite was flat,  whereas Shenzhen Component was up 0.6 per cent. Kospi slipped in pink marginally. Markets in Japan are closed on Monday for a vacation.

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