The domestic equity market was set for a negative start to the week, in contrast to trends across the globe. Asian peers were trading higher in the early hours, whereas US stocks settled in the green in weekend trade. The dollar stood firm, thanks to geopolitical worries. Crude lost some footing. Here's a break down of the pre-market actions:
The state of the markets The SGX
Nifty signals a negative start.
Nifty futures on the Singapore Exchange traded 38 points, or 0.21 per cent, lower at 17,705, signaling that Dalal Street was headed for a negative start on Monday.
Asian shares rose in early trade.
Asian shares opened higher on Monday, tracking gains on Wall Street, but early trade was volatile and gains were majorly capped as investors eyed developments in Ukraine and COVID-19 lockdowns in China. MSCI's index of Asia-Pacific shares outside Japan was up by 0.35 percent.
US shares settled higher.
US equities closed the first session of the second quarter higher on Friday after data showed American businesses adding workers in March, though the manufacturing sector is struggling amid high inflation.
The dollar was firm, the euro was weighed down.
The dollar made a firm start to the week as Treasury yields rose on expectations of rapid-fire U.S. interest rate hikes, while talk of bans on Russian gas kept the euro within sight of its 2022 lows. The Dollar
Oil extends losses.
Oil prices extended losses on Monday as investors eyed the release of supplies from strategic reserves by consuming nations, while a truce in Yemen could ease supply disruption concerns in the Middle East.
Brent crude futures fell 79 cents, or 0.8 per cent, to $103.60 a barrel by 0037 GMT, while US West Texas Intermediate crude was at $98.45 a barrel, down 82 cents, or 0.8 per cent. Both contracts slipped $1 when markets opened on Monday.
FIIs bought shares worth Rs. 1,910 cr. Net-net,
foreign portfolio investors (FPIs) became buyers of domestic stocks to the tune of Rs 1,909.78 crore, data available from the NSE suggested. The data suggests DIIs turned net sellers to the tune of Rs 183.79 crore. However, FPIs were net sellers to the tune of Rs 41,123 crore in the equity market last month.