Monday, June 24, 2024

10 Things To Know: Russian Roulette At Opening Bell

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Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 202 points.

The market is expected to open in the red as trends in the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 202 points.

The BSE Sensex slipped 149 points to 57,684, while the Nifty50 declined 70 points to 17,207 and formed a Doji kind of indecisive pattern on the daily charts as the closing was near the opening levels.

As per the pivot charts, the key support levels for the Nifty are placed at 17,068, followed by 16,929. If the index moves up, the key resistance levels to watch out for are 17,348 and 17,490.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent on Monday, accelerating a crisis the West fears could unleash a major war.

The moves drew US and European condemnation and vows of new sanctions, although it was not immediately clear whether the Russian military action would be regarded by the West as the start of a full-scale invasion. The area was controlled by Russian-backed separatists and Moscow in practice.

Asian Markets

Shares in Asia-Pacific declined in Tuesday morning trade as tensions surrounding Russia and Ukraine continue to keep investors on edge. The Nikkei 225 in Japan dropped 2% in morning trade before recovering partially from some of those losses, last down 1.66 percent while the Topix index slipped 1.33 percent. In South Korea, the Kospi fell 1.2 percent.

SGX Nifty

Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 202 points. The Nifty futures were trading around 17,003 levels on the Singaporean exchange.

Oil Leaps as Russia moves on Ukraine

Oil jumped to a seven-year high, safe-havens rallied and US stock futures dived on Tuesday as Europe’s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine. Brent crude futures rose 4 percent to $97.35, their highest since September 2014.

Gold Hits 9-Month High on Ukraine Crisis

Gold prices hit a near nine month-high on Tuesday, after Russia ordered troops into breakaway regions of eastern Ukraine, boosting demand for the safe-haven metal.

Spot gold was up 0.2 percent at $1,909.54 per ounce, as of 0035 GMT, after scaling its highest since June 1 at $1,913.89 per ounce earlier. US gold futures gained 0.7 percent to $1,913.60.

US Markets

US stock index futures tumbled on Monday after Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine, increasing concerns about a major war.

S&P 500 e-mini futures slid 1.81 percent. Dow Jones industrial average e-mini futures fell 1.37 percent and Nasdaq 100 e-mini futures dropped 2.65 percent. US stock markets were closed on Monday for the Presidents Day holiday.

SEBI gives approval to three more IPOs, including PharmEasy

The strong momentum in India’s initial public offering (IPO) market is expected to continue with the market regulator approving draft papers for three more firms. These companies that got the go-ahead were API Holdings Ltd, the parent of online pharmacy PharmEasy, Wellness Forever Medicare Ltd and CMR Green Technologies Ltd.

Domestic Air Passenger Traffic Tops 3-Lakh Mark

The daily domestic air passenger traffic in India crossed the 300,000-mark for the first time on February 18 since the advent of the third wave of the COVID-19 pandemic in the country. The total number of passengers on domestic flights stood at 310,288.

The domestic air traffic on February 20 was around 85 percent of the pre-COVID level while the domestic flight departures on the same day were around 81 percent of the pre-COVID level.

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Also read: US Plans “New Sanctions” As Russia Backs Ukraine Rebel Regions: 10 Points

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