Pre-Market views - Feb 25, 2022 - Reliance Securities

Mr Mitul Shah, Head Of Research at Reliance Securities.

US equities opened sharply lower as Russia began its full-scale Ukraine invasion. However, the markets rebounded to close higher as US President Joe Biden unveiled harsh new sanctions against Russia. The Dow Jones increased by 0.3%. The S&P 500 index jumped 1.5% while Nasdaq composite soared 3.3%. The 10-year yield settled at 1.969%, from 1.976% in the previous day. After consulting counterparts from the Group of Seven nations, Biden announced measures to impede Russia's ability to do business in the world's major currencies, along with sanctions against banks and state-owned enterprises.

Domestic equities crashed heavily in tandem with depressed global markets, as the Russian President Vladimir Putin declared a full-fledged war against Ukraine. Nifty declined by 4.8%. Broader markets underperformed in comparison to the main indices with Nifty Midcap and Nifty Smallcap decreasing by 5.7% and 6.2% respectively. All sectoral indices ended in red. Indian equity benchmarks nosedived yesterday as heightened geopolitical uncertainty ran high on investors' minds globally after Russia announced a military operation in Ukraine. The Sensex and Nifty50 saw their steepest fall since May 2020. Both headline indices extended losses to the seventh day in a row. The markets are likely to see up opening, SGX nifty is up 270 points compared to yesterday’s spot Nifty closing. Asian markets trading in green (Nikkei is up 1.5%, while Hang seng is up 0.4%)

Source : Equity Bulls

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