LIVE market updates: The key benchmark indices are likely to start the week on a negative note amid bearish global cues, possibly extending weakness for a fifth session on Monday.
At 8 am, the SGX Nifty futures were quoting 17,548 levels, down 100 points from Nifty’s spot close on Friday, thus indicating a gap-down opening.
The market today may get direction from heavyweights RIL and ICICI Bank, which posted their earnings on Friday after market hours and Saturday, respectively.The Mukesh Ambani-led company reported a strong 42 per cent YoY jump in consolidated net profit at Rs 18,549 crore for Q3FY22, backed by a 57 per cent growth in consolidated revenue at Rs 1,85,027 crore. READ MORE
ICICI Bank, on the other hand, posted a 25.4 per cent YoY growth in Q3 standalone net at Rs 6,193.81 crore, on the back of 10.9 per cent increase in total income to Rs 27,069.67 crore.
Globally, the US Federal Reserve policy meeting on January 27 on the interest rate decision and the FOMC statement for further direction on rates are also watched out for this week.
Global cues
Meanwhile, oil prices witnessed some profit-taking after rallying to 7-year highs. Brent Crude was down 0.6 per cent at $87.89 a barrel, and WTI Crude slipped 0.5 per cent to $85.14 a barrel.
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