Indian shares may open on a flat note Tuesday, tracking mixed global cues as Shanghai lockdown stoked demand fears and the war in Ukraine entered its third month with no end in sight to the fighting.
Russia unleashed a string of attacks against Ukrainian rail and fuel facilities on Monday in an apparent attempt to thwart Ukrainian efforts to marshal supplies.
Meanwhile, the much-awaited initial public offering of the Life Insurance Corporation of India is likely to open on May 4 and close on May 9, media reports suggest.
Benchmark indexes Sensex and the Nifty fell around 1.1 percent and 1.3 percent, respectively on Monday while the rupee slumped 22 paise to close at 76.64 against the dollar.
Asian markets traded mixed this morning as Beijing expanded mass testing.
The dollar hit around a two-year high against the euro and an 18-month high versus the pound, while the Chinese yuan posted its largest three day losing streak due to growing worries of an economic slowdown in China.
Gold regained some ground as bond yields eased. Oil edged up slightly after having tumbled more than 3 percent on Monday to a two-week closing low on demand concerns.
U.S. stocks recovered from an early slide to close higher overnight as bond yields retreated and tech stocks rallied on Twitter’s acceptance of Elon Musk’s roughly $44 billion takeover bid.
The Dow rose 0.7 percent, the S&P 500 gained 0.6 percent and the tech-heavy Nasdaq Composite climbed 1.3 percent.
European stocks hit one-month lows on Monday amid worries that further Covid-19 lockdowns could exacerbate supply-chain disruptions.
The pan European Stoxx 600 tumbled 1.8 percent. The German DAX lost 1.5 percent, France’s CAC 40 index gave up 2 percent and the U.K.’s FTSE 100 declined 1.9 percent.
Sensex, Nifty Seen Opening On Flat Note
2022-04-26 02:47:56
