SGX Nifty is up in the green indicating that the Indian market may have a start in the green as well. Among major pre-market cues, US stock markets fell on Monday amid heightened geopolitical tensions over the Russia-Ukraine border conflict, Indian equity benchmarks plunged amid broad-based selling and world shares slid as US warning that Russia could invade Ukraine at any time pushed oil prices to fresh seven-year peaks. Here are 10 things you should know before the market opens on Tuesday:
Wall Street | US stock markets fell on Monday amid heightened geopolitical tensions over the Russia-Ukraine border conflict. S&P 500 ended 0.4 percent lower at 4,401.67, while Dow Jones fell 0.5 percent lower to 34,566.17.
Asian Equities | Asian stock markets fell on Monday amid concern about a possible Russian invasion of Ukraine. Tokyo's benchmark index fell by an unusually wide daily margin of 2.1per cent. Shanghai, Hong Kong and Seoul also retreated.
D-Street | Indian equity benchmarks plunged amid broad-based selling on Monday taking weak cues from global markets, as escalating tensions between Russia and the West over Ukraine worried investors. It was the biggest single-day fall for the Indian market since April 2021. Losses in the heavyweight BFSI and IT packs were the biggest drags on headline indices.
Crude Oil| Oil prices surged over 2 percent on Monday to their highest in more than seven years as Ukraine's president declared a "day of unity" for Feb. 16. Brent crude rose $2.04, or 2.2%, to settle at $96.48 a barrel, after touching its highest since September 2014 at $96.78.
Rupee | The rupee plunged by 22 paise to close at 75.58 (provisional) against the US currency on Monday, as geopolitical tensions pushed investors towards safe-haven assets. Forex traders said a lacklustre trend in domestic equities and elevated crude oil prices weighed on the local unit.
Gold Prices | Prices of the yellow metal held their ground on Monday near a three-month high touched in the previous session, as lingering concerns surrounding the Ukraine impasse kept the metal's safe-haven appeal intact. At the MCX, gold contracts were trading higher by 0.79 percent at Rs 49,501 for 10 grams.
Cryptocurrency | Crypto prices were down marginally on Monday evening as the volatility amid a broader market selloff driven by investors recalibrating their portfolios to account for a more aggressive Fed continued. Bitcoin is down 0.6 percent at $42,481, while Ether is down 0.2 percent at $2,931.07.
Russia-Ukraine Conflict | The conflict has reached an inflection point with European stability and the future of East-West relations hanging in the balance. Russia has deployed over 100,000 troops near the Ukraine border. US President Joe Biden has warned that the US and its allies would respond decisively and impose swift and severe costs if Russia invades Ukraine. Read more here
Retail inflation | India's retail inflation rose to 6.01 percent in January on an annual basis and breached the RBI's upper tolerance level, mainly due to higher prices of certain food items, as per government data released on Monday. The Consumer Price Index (CPI) based retail inflation was 5.66 percent in December 2021 and 4.06 percent in January 2021. Read more here
LIC IPO | Life Insurance Corporation (LIC) has moved a step closer towards its initial public offering, expected to be India's largest ever. LIC filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to sell 5 percent stake via an offer for sale. Read more here