Indian headline indices- Sensex and Nifty are likely to open lower on Tuesday morning following weak Asian markets.Indian stocks markets were closed on Monday due to voting day in Mumbai.
Indian headline indices- Sensex and Nifty are likely to open lower on Tuesday morning following weak Asian markets.Indian stocks markets were closed on Monday due to voting day in Mumbai. On Friday the Indian stock markets ended higher by around 0.8 percent. While the Sensex ended 336.47 points up to 39,067.33, Nifty closed 112.90 points higher to 11,754.70 amid rising crude oil prices.
Crude oil prices: Oil prices fell on account of expectations that OPEC will increase output to compensate for a reduction in supplies from Iran following the ending of sanction waivers on Iranian oil importers. While the Brent crude futures were at $71.86 per barrel at 0103 GMT, down 18 cents from their previous close, the US WTI crude futures were at $63.42 per barrel, down 8 cents from their last close.
FII and DII: The net value of FIIs was in negative at Rs 70.73 crore, whereas that of DII was at Rs 920.88 crore on April 26.
Rupee movement: In March, the rupee touched a high of 68.5 but has been depreciating since then. It closed at 70.02 against the US dollar on Friday.
US Fed Reserve Policy Meet: The investors are keeping an eye on the US Federal Reserve meet which will take place this week. According to reports, the US Fed is expected to keep interest rates unchanged, as it is planning to balance robust economic growth against low inflation.
SC on RBI: The Supreme Court on Friday directed the Reserve Bank of India to disclose information relating to its annual inspection report of banks under the Right to Information (RTI) Act. It also directed the central bank to examine its policy of disclosing information in connection with banks under RTI.
Quarterly earnings: The investors are keenly watching the quarterly earnings which have have been rallying the stock markets. The markets rallied last week on Jan -Mar earnings of UltraTech and Tata Steel among others.