LIVE market updates: The key benchmark indices are likely to start higher on Monday amid positive global cues. At 8 am, the SGX Nifty futures were quoting 17,270 level, indicating a gap-up of over 100 points for the NSE Nifty benchmark.
This apart, markets will take note of the FY23 Economic Survey that the government will table at noon today, ahead of the Union Budget on Tuesday. Further, India’s GDP growth and core infra output will also be announced today after market hours.
Among individual stocks, BPCL, DLF, IOC, Jindal Saw, KEC International, KPIT Technologies, Krsnaa Diagnostics, SCI, Sun Pharma, Suven Life, Tata Motors and UCO Bank may be in focus as the companies announce their Q3 results. READ MORE.
In the primary market, Adani Wilmar IPO closes for subscription today. The issue so far has been subscribed 1.13 times, with the retail quota subscribed 1.85 times and NII quota 88 per cent.
Global cues
The US stocks ended with strong gains on Friday amid some bargain hunting. The Dow Jones gained 1.7 per cent, the S&P 500 jumped 2.4 per cent and Nasdaq soared 3.2 per cent.
Oil prices extended gains for the sixth straight week as geopolitical turmoil exacerbated concerns over tight supply. Brent Crude ended 0.8 per cent higher to $90.03 a barrel, and WTI Crude added 0.2 per cent to $86.86 a barrel.
Major markets in Asia were up marginally this morning. Japan’s Nikkei advanced 0.5 per cent, and Hang Seng added 0.3 per cent. Kospi surged nearly 2 per cent, while Straits Times was up 0.7 per cent.
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