Indian stock markets to see red ahead as Asia under pressure
By Vinu Lal
03:00, 5 October 2021
Indian stocks indices could even see a gap-down start on Tuesday as SGX Nifty futures tanked on early trades losing over 0.70% riding on overall Asian sentiments.
Across the region, stocks have fallen on Tuesday morning trades as a spike in oil prices fuelled inflation concerns and monetary policies.
At Wall Street, technology stocks led the decline with inflationary concerns weighing down on all stock market indices. Dow fell 0.9%, S&P 500 1.3% and Nasdaq 1.2%
US oil prices benchmark West Texas Intermediate jumped 3% to $78 a barrel for the first time since 2014 hit a seven-year high while Brent crude, the international index, rose to $82 a barrel, a first in the past three years.
Key things to note before trade
Invesco, a minority shareholder in Zee Entertainment Enterprises urged the local tribunal to pass an order to convene an extraordinary general meeting.
Bank stocks in focus as Reserve Bank of India on Monday gave licence to create an INR60bn ‘bad bank’ or the National Asset Reconstruction Company (NARCL) that will aggregate all bad loans of banks and India Debt Resolution Co (IDRCL) that will sell these loans over a period of time
JSW Energy signed a contract with Senvion India for procuring wind turbines for 591-megawatt projects
Macrotech Developers sold INR11bn ($147.5mn) worth property projects in London last month
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