ECONOMY

Share Markets Live: SGX Nifty Slips 1.4% On Weak Cues; HDFC Bank, ACC, HCL Tech, GR Infra Listing In Focus

Asian stocks and U.S. futures fell Monday on concerns about the impact of Covid-19 outbreaks and elevated inflation on economic prospects.

Shares fell across the region, with Japan and Hong Kong underperforming. China opened with more modest losses. S&P 500 and Nasdaq 100 futures dropped after the S&P 500 fell for the first week in four. The rally in Treasuries continued, sending 10-year yields further below 1.3%.

India’s SGX Nifty 50 Index futures for July delivery slipped 1.4% to 15,710.50, while MSCI Asia Pacific Index fell by a similar magnitude. The NSE Nifty 50 Index little changed Friday at 15,923.40.

Oil slipped after OPEC+ agreed to boost production into 2022, resolving an internal dispute that had shaken the alliance. The yen advanced and the dollar was steady amid cautious sentiment.

Elsewhere, the pound was generally steady with the U.K. government due to lift remaining virus curbs in England. At the same time, Prime Minister Boris Johnson agreed to self isolate after being exposed to Covid-19.

Back home, HDFC Bank, Just Dial, L&T Finance may react as the companies reported quarterly results after the market closed Friday. HCL Tech., HDFC Life, ACC, Nippon Life, Indian Bank are among the companies scheduled to report earnings Monday. HDFC Life among companies holding their annual shareholders’ meeting.

GR Infraprojects, Clean Science to debut after IPO. Foreign investors boughtnet Rs 383 crore of stocks on Thursday, according to NSDL website.

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