Important Information for the September 5 Stock Trading Strategy

India’s equity benchmarks are set to open on a negative note on Monday, as indicated by Nifty Futures traded on the Singapore Stock Exchange. The SGX index was trading 37 points or 0.21% lower at 17,502.

Here are the key things to know before markets open on Monday.

Asian markets

Asian stocks were trading lower in early trading on Monday. MSCI’s broadest index of Asia-Pacific stocks outside Japan fell 0.1%. While the Japanese Nikkei fell 0.40%, Singapore’s Hang Seng index traded down 1.38%. China’s Shanghai traded up 0.15%, while the Shenzhen component slid 0.68%. The South Korean KOSPI was trading up 0.11%.

US markets

On Friday, US markets ended lower, marking the third losing week in a week amid anticipation of an aggressive rate hike by the US Federal Reserve.

The S&P 500 fell 133 points or 3.3%, while the Dow Jones Industrial Average plunged 94.96 points or 3%. While the Nasdaq slipped 510.85 points or 4.2%, the Russell 2000 fell 90.08 points or 4.7%. Russian energy giant Gazprom said it would not reopen a gas pipeline to Germany just yet, pointing to problems for Europe, which is already struggling with higher energy prices .

Gazprom, which is a Russian energy giant, said it would reopen a gas pipeline to Germany, signaling problems for Europe, which is already struggling with higher energy prices. This further lowered the indices.

Checking the price of gold and crude oil

On Monday, crude oil prices jumped more than $1 a barrel. Brent crude futures jumped $1.43 to $1.43, or 1.5%, to hit $94.45 a barrel at 0054 GMT. U.S. West Texas Intermediate crude jumped $1.25, or 1.4%, to $88.12 a barrel.

Gold prices were trading flat on Monday. Spot gold was unchanged at $1,611.48 an ounce at 0148 GMT, while US gold futures traded at $1,722.

Foreign flows

Foreign institutional investors (FIIs) remained net sellers worth Rs 8.79 crore, while domestic institutional investors sold shares worth Rs 668 crore on Friday.

Actions in brief

SpiceJet: SpiceJet had earlier announced that it had received a three-month extension to hold the company’s annual general meeting (AGM). SpiceJet’s losses widened to Rs 1,748 crore in FY22. It also plans to raise Rs 225 crore from bankers.

Vodafone idea: India’s third-largest telecom operator recently prepaid Rs 2,700 crore to the State Bank of India to win back the trust of lenders to raise funds for 5G equipment.

Tata Group: Cyrus Mistry, the former chairman of the Tata group, was killed in a road accident on Sunday. The Shapoorji Pallonji Group holds an 18% stake in Tata Group.