Stock Market Today: The larger Indian index has gained 106 points, or 0.62 percent, according to trends on the Singapore Exchange Nifty. On the Singapore Exchange, the Nifty futures were trading around the 17,020 mark.
Oil prices climb in relief rally as banking concerns ease
While geopolitical tensions in Europe increased as a result of remarks made by Russian President Vladimir Putin over the weekend, oil prices rose in early trade on Monday as worries about turbulence in the financial sector subsided.
At 00:40 GMT, Brent crude futures were up 33 cents, or 0.4%, to $75.32 a barrel. U.S. West Texas Intermediate crude was up 39 cents or 0.6% at $69.65 a barrel. While concerns in the banking sector subsided, WTI recovered 3.8% and Brent increased 2.8% last week.
Stock Market Today: Dalmia Cement to sell 42% stake in associate firm to Sarvapriya Healthcare
According to the exchange filing, Sarvapriya Healthcare Solutions Private Limited, a promoter group company, and Dalmia Cement have “entered into a binding agreement to sell Dalmia Cement’s entire investment of 1,87,23,743 equity shares of Rs 10 each (42.36 percent of share capital) of Dalmia Bharat Refractories Limited, an associate company, for a consideration of Rs 800 crore.”
According to the company’s “plan to quit non-core business,” the choice was made in accordance with Dalmia Bharat’s board of directors’ consent on March 25.
Stock Market Today: Dollar steady as banking crisis fears keep investors jittery
On Monday, the dollar held steady as the yen remained close to its seven-week high as investors evaluated the steps taken by authorities and regulators to allay concerns about the global financial system.
The dollar index, which compares the value of the dollar to six other currencies, increased by 0.078% to 103.060 after rising by 0.5% on Friday as financial concerns increased and shares of Deutsche Bank fell by about 9%.
Wall Street ends volatile week higher as Fed officials ease bank fears
On Friday, US markets ended the week on a positive note as Federal Reserve officials allayed investor concerns about a potential liquidity crisis in the banking industry.
Following a sell-off among European banks, all three main U.S. stock indexes opened the session significantly lower, but by closing bell, those losses had been reversed, continuing the intraday roller coaster of recent sessions.
All three indices registered weekly increases at the end of a roller-coaster week that was highlighted by a Fed interest rate hike and growing concerns about the stability of the banking sector.
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