Market LIVE: Lower open likely amid weak global cues; SGX Nifty down 90 pts

Equity markets will keenly watch out for the February WPI data, and the retail inflation figures that are scheduled to come later today. Investors will also react to the IIP data that came on Friday. IIP picked up marginally to 1.3 per cent in January from last year as manufacturing output grew 1.1 per cent.

This week remains eventful as the US Federal Reserve is set to meet on March 15 and 16, where it will likely announce a quarter-point hike in interest rates as widely expected. 

Investors will also closely watch developments on the Russia-Ukraine talks, which will be held today for the fourth time. 

Among individual stocks, Anupam Rasayan India will be in focus as the company has acquired a 24.96 percent stake in Tanfac Industries via off-market transactions on March 11.

Gail India will also be on the radar as the board has approved the payment of second interim dividend of Rs 5 per equity share for the financial year FY22. The record date for eligibility of shareholders for payment of dividend has been fixed as March 22.

Global cues

On Friday, the US markets erased early gains to end lower. The S&P 500 fell 1.3 per cent, Dow Jones dropped 0.7 per cent and Nasdaq slid 2.2 per cent.

Brent crude rose 3.1 per cent on Friday to settle at $112.67 per barrel. Although, this morning, the prices were seen sliding to $109 on hopes of peace from the ongoing Russia-Ukraine talks.

Asian stocks were mostly lower on Monday with the Hang Seng index down 2.3 per cent, while Kospi was 0.3 per cent lower. Shenzhen Component and Shanghai Composite fell 1.4 per cent each. Japan’s Nikkei was up 1.14 per cent.