[ad_1]
Markets are likely to open on a tepid note amid sour mood overseas. As of 7:58 AM, the SGX Nifty Futures quoted 17,674 levels, down over 50-odd points on the Nifty50.
Globally, the US markets snapped their 4-week rally on Friday due to rate hike fears. Investors dumped tech or growth-led stocks as NASDAQ Composite declined over 2 per cent. That apart, Dow Jones and the S&P 500 dropped 0.8 per cent and 1.2 per cent, respectively.
Following a similar trend, major markets in Asia-Pacific edged lower in trade on Monday morning as well. Japan’s Nikkei 225 shed 0.5 per cent, South Korea’s Kospi dropped 0.7 per cent, and Hong Kong’s Hang Seng declined 1 per cent.
Meanwhile, prices of crude oil were on a slippery slope as Brent Crude hovered around $95 per barrel and WTI Crude stood at $89 per barrel.
Back home, shares of Adani Power will be in focus after they acquired DB Power for Rs 7,000 cr in an all-cash deal. Besides, insurance behemoth LIC saw 20 per cent decline in death claims in June quarter of this fiscal.
CATCH ALL THE LIVE UPDATES