Credit Source
A gap down open is likely for domestic markets after the US Federal Reserve Jerome Powell’s hawkish stance at the Jackson Hole meet dampened global sentiments. As of 8:03 am, the SGX Nifty futures quoted 17,274 levels, down nearly 300 points.
Globally, the US Fed’s aggressive stance to tame inflation sparked selloff in the US markets on Friday. Dow Jones declined 3 per cent, while the S&P 500 and NASDAQ Composite tumbled 3.3 per cent and 3.9 per cent, respectively.
Major-markets in Asia-Pacific, too, crashed on negative Wall Street cues on Monday morning. Nikkei 225, Kospi, Kosdaq, S&P 200, Hang Sang slipped up to 3 per cent.
Meanwhile, prices of crude oil continued its upward trajectory on OPEC’s signal to cut output. Brent Crude climbed 0.9 per cent to $102 per barrel and WTI Crude rose 1.1 per cent to $94 per barrel.
Back home, shares of Reliance Industries will be focus ahead of the conglomerate’s 45th Annual General Meeting (AGM).
Besides, shares of Britannia Industries will be under investors’ radar after a major fire broke out at the company’s Pantnagar manufacturing facility.
Add A Comment