The Indian stock market is predicted to begin in the green, as the wider index in India is expected to open with a gain of 27 points, according to SGX Nifty trends.
On the daily charts, the BSE Sensex slid 1,172 points, or 2%, to 57,167, while the Nifty50 fell 302 points, or 1.73 percent, to 17,174, forming a Doji candle, suggesting indecisiveness among bulls and bears.
According to pivot charts, the Nifty’s main support level is 17,082, followed by 16,990. The important resistance levels to watch for if the index rises are 17,252 and 17,330.
On a tumultuous trading day on Monday, Wall Street closed the day down, while US Treasury rates soared as investors weighed excellent results against the impact of Russia’s invasion of Ukraine on the global economy.
The Dow Jones Industrial Average was down 0.11 percent, the S& P 500 fell 0.02 percent, and the Nasdaq Composite dropped 0.14 percent.
In early trading, the Nikkei 225 index in Japan rose 1.11 percent, while the Topix index gained 0.99 percent. The Kospi index in South Korea increased by 0.72 percent. The S&P/ASX 200 index rose 0.22 percent in Australia. Outside of Japan, MSCI’s broadest index of Asia-Pacific stocks rose 0.13 percent.
The wider index in India is expected to begin with a rise of 27 points, according to SGX Nifty trends. On the Singaporean market, the Nifty futures were trading at roughly 17,253 levels.
On Monday, oil prices increased more than 1%, with Brent crude surpassing $114 a barrel, as disruptions in Libya heightened concerns about tight global supplies in the wake of the Ukraine conflict.
Brent crude jumped $1.46, or 1.3 percent, to $113.16 per barrel, the worldwide standard. The contract hit a new high of $114.84 per barrel on March 28, the highest since March 28. The price of US West Texas Intermediate increased $1.26, or 1.2 percent, to $108.21 per barrel. The price of the benchmark rose to $109.81 a barrel, the most since March 28.
In March, China’s economy slowed as consumption, real estate, and exports all took a blow, putting a damper on faster-than-expected first-quarter growth estimates and weakening an outlook already weakened by COVID-19 restrictions and the Ukraine conflict.
On April 18, the Reserve Bank of India approved the inclusion of extra government bonds as level one High-Quality Liquid Assets (HQLA) in the calculation of the liquidity coverage ratio. The RBI stated in a statement that banks will be able to count bonds up to 16 percent of their net demand and time liabilities with immediate effect, up from 15 percent before.
According to the press release, the overall HQLA carve-out from the obligatory Statutory Liquidity Ratio, which can be used to fulfill the LCR requirement, will be 18 percent of banks’ net demand and time liabilities.
