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Stock Market Live News Update: The key benchmark indices are likely to start Monday’ session on a lower note, continuing the volaitlity from the previous session as geo-politicial tensions between Russia and Ukraine continue to simmer. At 7:30 am, the SGX Nifty March futures were around 90 points down from Nifty’s spot close the previous session.
“Volatility may continue this week as well because there is no clear picture about the Russia-Ukraine standoff and the market is reacting to every news flow which is coming every 15 minutes therefore geopolitical situation will remain a key factor for this week as well,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Among stocks today, InterGlobe Aviation (IndiGo) will be in focus as one of its co-founder Rakesh Gangwal has tendered his resignation from the Board of Directors of the company. Gangwal, who owns 36.6 per cent stake in the airline company, said he will cut stake the over the next 5 years.
Power Finance Corporation may also be looked out for as state-insurer Life Insurance Corporation of India sold a 2.02 percent stake in the company through open market transactions. As a result, its shareholding in the company has reduced to 5.06 percent, from 7.09 percent earlier.
Global Cues
Meanwhile, oil prices climbed higher – Brent crude jumped 1.3 per cent to $94.76 a barrel, and WTI crude surged 1.9 per cent to $92.83, a barrel.
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