Indian stock markets are likely to be under pressure when they open on Monday

Indian stock market benchmark NSE Nifty 50 index on Wednesday closed 0.31% down at 17,475.65 and the S&P BSE Sensex fell 0.41% to 58,338.93

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Indian stock markets are likely to be under pressure when they open on Monday. Both BSE and NSE were closed for trading on Thursday and Friday due to public holidays. Most Asian markets were in the red today after a negative lead from Wall Street.

Apart from worries about surging inflation, the continuing Ukraine-Russia war has added to the uncertainty about the global economic recovery from the Covid-19 pandemic.

Indian stock market benchmark NSE Nifty 50 index on Wednesday closed 0.31% down at 17,475.65 and the S&P BSE Sensex fell 0.41% to 58,338.93. The 10-year benchmark bond yield ended at 7.2148%, while the rupee settled at 76.1750 to the dollar.

HDFC Bank announces its earnings on Saturday (16 April 2022). Infosys, which announced earnings after market hours on Wednesday, gave a sales forecast that trailed analyst estimates. Revenue this fiscal year ending in March 2023 will increase 13% to 15% in constant currency terms, lagging the 17% growth analyst had projected on average. The stock slid sharply in New York trading.

Nifty futures trading on Singapore exchange (SGX Nifty) was down at 17,301, amid weak global cues.

Central banks in several major economies including the United States, Canada and Britain have already started raising interest rates to contain prices, but the European Central Bank on Thursday kept its stimulus plans and rates unchanged.Analysts had expected China’s central bank to cut interest rates on Friday to provide support to the Covid-stricken economy. But the People’s Bank of China left them unchanged.

Russia is a major global oil and gas supplier, and — along with Ukraine — is also a key player in the grain sector. The conflict has shaken markets for these commodities. The war has sent oil prices soaring, with reports swirling about further energy sanctions on Russia.