After being closed on Friday due to Good Friday, the Indian headline indices- Sensex and Nifty, opened lower on Monday morning on account of mixed global cues. Today, the SGX Nifty settled at 11,742.50, down by 65.50 points.Currently, the Sensex is trading down by as much as 181 points at 38,960.24 level, while Nifty is trading at 11,687.95, marginally lower by 64.85 points. We take a look at the key factors which may drive the Sensex, Nifty today:
Crude oil prices: The crude oil prices surged amid Libya conflict reports that the US will announce its decision on those who are importing oil from Iran. As per the report the US will end to grant sanctions waivers to the countries who import from Iran.
FII and DII: As on April 18, while the net value of foreign institutional investors was Rs 1,038.46 crores, the net value of domestic institutional investors was in negative Rs 337.59 crores.
US-Iran Sanctions: The world’s largest economy US is likely to announce Monday that the importers of Iranian oil will have to end their imports shortly or be subject to US sanctions, according to Washington Post report. Washington has granted waivers to eight economies including China, India and Japan that had reduced their oil imports from Iran, allowing them to continue with their oil purchases without facing sanctions for six more months.
FMCG growth report: The fast-moving consumer goods industry is likely to grow at a pace of 11-12 percent in 2019, slower than 2018 on account of steep fall in rural demand owing to persisting farm distress, according to the report of market agency Nielsen. The FMCG industry is likely to grow at 12-13 per cent in the June quarter. The sector grew at 13.6 percent in the first quarter but there is a softening of volume growth in the range of 100- 200 basis points, still helping the sector to grow in double-digits in the first half, CNBC TV18 said quoting a report.