Jitters Likely To Continue?
Indian equities posted losses last week after giving up all of Monday’s gains. The Sensex and the Nifty 50 failed to hold their levels of 51,000 and 15,000, respectively, on Friday.
Today marks the beginning of the February F&O series expiry week. Futures, which were earlier indicating a positive start, are now at the session’s low. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 15,007 as of 7:50 a.m. on Feb. 22.
Most Asian equities are advancing this morning with Japanese stocks outperforming and shares in South Korea trading higher as well. Futures on the Dow Jones continue to trade 50 points higher. The index ended unchanged on Friday.
Metal prices across the globe continue to rise. Copper prices on the LME rose to their highest since September 2011, while Tin prices hit a nine-year high.
Yield on the 10-year treasuries rose to 1.38%, while West Texas Intermediate crude rose 0.8% to $59.7 per barrel. Four of the largest refineries in Texas are likely to remain shut for weeks due to repairs post damages caused by the cold snap.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.