Updated : April 26, 2021 08:04 AM IST
The Indian market is likely to open higher on Monday amid strong global cues and a positive trend on SGX Nifty. The Nifty futures were trading 63.50 points or 0.44 percent higher at the 14,403.50 level on the Singaporean Exchange at 7:50 am.
1. Wall Street | US stocks rose in a broad rally on Friday as increased factory output and housing data supported expectations of a swift economic recover while big tech stocks rose in anticipation of strong earnings reports next week. The S&P 500 gained 1.09 percent at 4,180.17, and the Dow Jones Industrial Average rose 0.67 percent to 34,043.49. The Nasdaq Composite added 1.44 percent at 14,016.81. 2. Asian markets | Asian stocks rose on Monday with Chinese shares near three-week highs as signs the world economic recovery was well on track bolstered risk appetite, while the US dollar slipped to a two-month low. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.3 percent to surpass critical chart resistance of 700 points and reach its highest since March 18. 3. Indian market on Friday | Indian equity indices ended lower Friday dragged by selling in IT, FMCG and pharma stocks. The Sensex fell 202.22 points or 0.42 percent to 47,878.45, while the Nifty closed 64.80 points, or 0.45 percent lower at 14,341.35. Broader markets outperformed the benchmarks as the Nifty Midcap100 and Nifty Smallcap100 ended higher. Among sectoral indices, IT, FMCG, pharma, metal and realty ended in the red, while gains were seen in Nifty PSU Bank and Nifty Media indices. 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 8 cents, or 0.1 percent, to $66.03 a barrel, following a 1.1 percent rise on Friday. US West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1 percent, at $62.10 a barrel, after rising 1.2 percent on Friday. Both benchmark crudes fell about 1 percent last week. 5. Rupee | Falling for the fourth session in a row, the rupee on Friday closed below the 75 mark against the US currency for the first time in nearly two weeks as a record spike in COVID-19 cases and losses in the domestic equities weighed on investor sentiment. At the interbank forex market, the local unit opened lower at 75.02 against the previous close of 74.94 and traded in the range of 74.75 to 75.07 during the day. The rupee finally ended at 75.01, the lowest closing level since April 12, registering a fall of 7 paise over its previous close. In the four sessions since Monday, the rupee has dropped by 0.89 per cent or 66 paise. 6. UK economy set to grow faster than the US this year – Goldman | Britain looks set to see faster economic growth than the United States this year as the country races ahead with its vaccination programme after its slump in 2020, Goldman Sachs said on Sunday. The bank said in a note to clients that it now expects British gross domestic product to grow by a “striking” 7.8% this year, “above our expectations for the US” 7. Imposition of curbs by states could affect exports: EEPC | Engineering Export Promotion Council on Sunday said the imposition of restrictions by states to contain rising coronavirus cases could affect the exports and the worst impacted would be MSMEs. The EEPC said while recovery in the last few months of the fiscal year offers a ray of hope for the sector, the rising number of COVID-19 cases poses a downward risk. 8. FPIs pull out Rs 7,622 crore so far in April | Overseas investors withdrew a net Rs 7,622 crore from Indian markets in April so far as a surge in COVID-19 cases and the consequent restrictions imposed by various states dent investors’ sentiment. According to the depositories data, overseas investors pulled out Rs 8,674 crore from equities, but invested Rs 1,052 crore in the debt segment. The total net withdrawal between April 1-23 stood at Rs 7,622 crore. 9. MFs add 81 lakh investors account in FY21, experts hopeful of continued growth | The mutual fund industry added more than 81 lakh investor accounts in 2020-21, taking the total tally to 9.78 crore, and experts hope that the healthy growth in folios would continue in the ongoing fiscal also. Investor account in equity-oriented schemes surged by 24.3 lakh to 6.68 crore at the end of past fiscal from 6.44 crore in March 2020. Besides, the debt-oriented scheme folios count rose by 16.16 lakh to 88.4 lakh. 10. Bharat Biotech fixes Covaxin price at Rs 600/dose for state govts; Rs 1200 for private hospitals | Bharat Biotech has fixed the price of its COVID-19 vaccine, Covaxin, at Rs 600 per dose for state governments, while it will cost Rs 1200 per dose for private hospitals, the domestic pharma major announced on Saturday. The company has set export price at between $15-20 per dose.
Published : April 26, 2021 08:04 AM IST