Indian indices are likely to make a gap-down opening on Thursday trackong losses in global peers as geopolitical tensions between Russia and Ukraine worsens after the United Nationals held a second emergency meeting on the Russia-Ukraine crisis. At 8:30 am, the SGX Nifty was trading 167 points or 0.99 percent lower at 16,733, indicating a negative start for the Indian markets.
Indian failed to stay in the green on Wednesday and ended lower for the sixed session dragged by selling in auto and financial stocks, however gains in consumer and PSU banking stocks capped the losses. The Sensex ended 68.6 points or 0.1 percent lower at 57,232 and the Nifty50 settled at 17,054.2, down 38.1 points or 0.2 percent.
Let's take a look at some key market cues before the market opens today:
US Markets
The US markets fell after Ukraine declared a state of emergency and the US warned of an imminent Russian invasion of Ukraine. S&P 500 declined 1.8 percent, Dow Jones Industrial Average was down 1.4 percent and Nasdaq Composite lost 2.6 percent.
Asian Markets
Asian markets begin the day sharply lower after Ukrainian President Volodymyr Zelenskyy said a "major war in Europe" could be started by Russia soon. MSCI's broadest index was down 1.2 percent at the last count. Japan's Nikkei, Hing Kong's Hang Seng, and South Korea's Kospi were down 1-2 percent each.
Oil
Oil prices steadied on Wednesday, holding below 2014 highs, as U.S. officials indicated escalation between Russia and Ukraine was unlikely to result in sanctions on energy supplies from Russia, one of the world's top oil producers.
SGX Nifty
At 8:30 am, the SGX Nifty was trading 167 points or 0.99 percent lower at 16,733, indicating a negative start for the Indian markets.
Rupee
The rupee appreciated by 23 paise to close at 74.61 against the US dollar on Wednesday due to a pullback in the greenback and crude oil prices after Western countries imposed several sanctions on Russia for sending troops into separatist-held regions in Ukraine.
Russia-Ukraine Conflict
Russia's Putin announces a 'military operation' in Ukraine, calls on Ukraine military to 'lay down its arms'. UN chief tells Putin: 'Stop your troops from attacking Ukraine'. The United Nations Security Council scheduled an emergency meeting for Wednesday night at the request of Ukraine, which said it feared an immediate threat of a Russian invasion. US Secretary of State Antony Blinken said he believes Russia will invade Ukraine within hours after separatists on Wednesday asked for Russian help to repel "aggression" and as explosions rocked the breakaway eastern city of Donetsk.
Stocks in News
Indus Towers, L&T Fin Holdings, Vedanta, Sun Pharma, Wipro are some stocks that will be in news today.
FII/DII activity
Foreign institutional investors (FIIs) net sold Indian equities worth Rs3,417.2 crore on Wednesday, according to provisional exchange data. However, domestic institutional investors (DIIs) made net purchases of ₹3,024.4 crore.