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Market Morning Brief: What you must know as trading begins on Dalal Street

While, JNU row and Jat stir hogged the limelight over the weekend, markets will draw cues majorly from Budget session that starts on Tuesday and derivatives expiry approaching on Thursday.

BT Online   New Delhi     Last Updated: February 22, 2016  | 09:23 IST
What you must know before opening bell rings
Photo: Reuters

The Budget week starts amid chaos not only at domestic front, but also global. While, JNU row and Jat stir hogged the limelight over the weekend, markets will draw cues majorly from Budget session that starts on Tuesday and derivatives expiry approaching on Thursday.

Here is a wrap-up of important updates that you must go through before playing the bourses:

 

  1. Fed Rate hike prospects brighten on US inflation data: Data on Friday showed the core consumer price index (CPI), a measure of underlying US inflation, rose in January by the most in nearly 4-1/2 years to a 2.2 per cent annualized rate. It drew particular attention as the number was above the Fed's 2.0 per cent target, though it is not the central bank's benchmark inflation measure. Stronger than expected CPI has sharpened focus on Federal Reserve's next move.
  2. Brexit referendum on June 23: Britain Prime Minister David Cameron has launched a major push to win support to keep Britain inside European Union, while London mayor Boris Johnson is opposing Cameron to campaign for Brexit, a Britain exit from 28-nation European Union. The referendum on the same will happen on June 23. Expect extreme volatility in the bond and equity markets in the course of approaching voting day.
  3. Asian markets trade on a cautious note: Asian markets climbed off to a cautious start on Monday as investors await a rush of February industry surveys to get the sense of global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union.
  4. Oil prices stabilise: Oil prices on Monday made up ground from steep falls in the previous session but analysts said oversupply meant the market remained weak. US West Texas Intermediate (WTI) crude futures were trading at $29.89 per barrel, up 25 cents from their last settlement, while Brent was up 24 cents at $33.25 per barrel. Both contracts had fallen almost 4 per cent on Friday.
  5. Gold holds above $1200: Gold eased for a second straight session as the dollar edged higher, but the metal remained underpinned above $1,200 an ounce as caution in financial markets prompted investors to channel money into bullion.
  6. Jat stir and Maruti Suzuki: The country's largest carmaker Maruti Suzuki India suspended operations at its two plants in Gurgaon and Manesar as component supplies have been hit by the agitation of Jats demanding job reservation.

 

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