The Indian market is likely to open higher amid mixed cues from global peers. At 7:57 am, the SGX Nifty was trading 51.30 points or 0.35 percent higher at 14,538.50, indicating a positive start for the Sensex and Nifty50.
1. Wall Street: Modest gains for stocks nudged the S&P 500 and the Nasdaq to more record highs on Wall Street as investors brace for a deluge of earnings reports from big US companies. The S&P 500 rose 0.2 percent, the DJIA fell 0.2 percent, but the Nasdaq rose 0.9 percent.
2. Asian stocks: Shares in Asia-Pacific were lower Tuesday morning as investors await the Bank of Japan’s interest rate decision. In Japan, the Nikkei 225 shed 0.11 percent. Mainland Chinese stocks were lower in early trade, with the Shanghai composite shed 0.2 percent while the Shenzhen component declined 0.19 percent. Hong Kong’s Hang Seng index dipped 0.2 percent. South Korea’s Kospi sat below the flatline. Meanwhile, Australia shares declined as the S&P/ASX 200 fell 0.47 percent. MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.19 percent lower.
3. Dalal Street: The Indian equity market ended over 1 percent higher on Monday led by gains in metals, banks and financial stocks amid positive global cues. The Sensex gained 508.06 points, or 1.06 percent to 48,386.51, while the Nifty ended 143.65 points, or 1.00 percent higher at 14,485.00.
4. Crude Oil: Oil prices eased slightly on Monday on concerns that a resurgence of coronavirus infections in India and Japan, the world's third and fourth largest oil importers, would cut fuel demand in Asia. Brent crude futures fell 0.1 percent $66.03 a barrel by 0058 GMT, following a 1.1 percent rise on Friday. US West Texas Intermediate (WTI) crude futures were down 0.1 percent, at $62.10 a barrel, after rising 1.2 percent on Friday.
5. Gold: Gold prices in the national capital on Monday fell Rs 81 to Rs 46,976 per 10 gram due to rupee appreciation. Silver also dipped Rs 984 to Rs 67,987 per kg, from Rs 68,971 per kg in the previous trade. In the international market, gold was quoting marginally higher at USD 1,779 per ounce and silver was flat at USD 26.02 per ounce.
6. Rupee: The rupee strengthened by 28 paise to close at 74.73 against the US dollar on Monday, ending its four-session losing run on the back of weakness in the greenback and positive domestic equities. A fall in crude oil prices and improved risk appetite supported the local unit even as worries over surging COVID-19 cases restricted the gains.
7. Bitcoin: Bitcoin soared nearly 10 percent on Monday, after five straight days of losses, on reports that JPMorgan Chase is planning to offer a managed bitcoin fund. The cryptocurrency posted a record weekly outflow, with overall sentiment on cryptocurrencies turning cautious as the digital asset's searing rally hit a wall, data from digital currency manager CoinShares showed on Monday. Outflows for bitcoin hit $21 million for the week of April 23, the largest weekly outflow on record.
8. Tech Mahindra earnings: IT services major Tech Mahindra on Monday reported a 17.4 percent sequential fall in consolidated net profit at Rs 1,081.4 crore for the quarter ended March 2021. The company’s net profit in the previous quarter was Rs 1,309.81 crore. Profit missed CNBC-TV18 analysts' poll estimates of Rs 1,313 crore. Read more.
9. India's ratings: Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to10.2 percent from 11.8 percent previously, citing the country's escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic.
10. Tata-Cyrus Mistry Case: Shapoorji Pallonji group has challenged the Supreme Court's verdict in favour of the Tata Group. In a review petition, Cyrus Mistry's camp has raised many points of contention which bring back the same matters of corporate governance, rights of minority shareholders and duties of independent directors to the fore. Read more