Global equities looked weak at the start of the week as tensions mounted over Russia’s military build-up near Ukraine and the US warned that an invasion could be imminent. It comes amid high inflation and the prospect of aggressive interest rate hikes by the Federal Reserve to control it.
Oil prices rise more than 1% to hit 7-year high on supply shock
Oil prices rose to their highest level in more than seven years on Monday, amid fears that a possible invasion of Ukraine by Russia could lead to US and European sanctions that cripple exports from the world’s top producer in an already tight market. will interrupt.
Brent crude futures were up $95.56 a barrel, up $1.12, or 1.2%, after previously peaking at $96.16, the highest since October 2014. US West Texas Intermediate (WTI) crude rose $1.28, or 1.4%, to $94.38 a barrel. is hovering near the session high of $94.94, the highest level since September 2014.
The United States’ comments about an imminent attack by Russia on Ukraine have stunned global financial markets.
The US said on Sunday that Russia can attack Ukraine at any time and make a surprising excuse to attack.
TVS Supply Chain Solutions files for ₹2,000 cr IPO
TVS Supply Chain Solutions Ltd on Sunday filed draft documents with the markets regulator for initial share sale through which the logistics arm of the diversified TVS Group will seek to mobilize. New capital of Rs 2,000 crore, while some existing shareholders will also reduce their stake.
TVS Supply Chain Solutions is part of the TVS Mobility Group comprising four business verticals – Supply Chain Solutions, Manufacturing, Auto Dealerships and Aftermarket Sales & Service. It provides customized solutions to enable agile and efficient supply chain to the clients at large scale. According to the draft initial public offering (IPO) document, the company operates in over 25 countries, serving over 60 ‘Fortune Global 500 2021’ customers in the first half of this fiscal year through March.
The IPO will consist of a fresh issue of equity shares in total 2,000 crore and secondary share sale of 59.48 million shares.
Gold nears 3-month high as demand rises due to tensions in Ukraine
Gold prices held their ground on Monday at a three-month high in the previous session, as concerns around Ukraine kept the metal’s safe-haven appeal intact.
On Monday, spot gold was trading steady at $1,859.16 an ounce. In the previous session, bullion prices hit an all-time high since November 19 at $1,865.15, their biggest daily gain since mid-October.
US gold futures rose 0.9% to $1,859.00 an ounce.
Govt to sell 5% in LIC in mother of all IPOs
Government aims to raise about 75,000 crore by selling 5% stake in Life Insurance Corporation of India (LIC) through India’s biggest ever initial public offering, which is expected to test investors’ appetite amid a volatile market.
According to the draft IPO documents filed with the Securities and Exchange Board of India (SEBI), the government will sell 316.25 million shares through an offer for sale (OFS). ,read here,
stock to watch
shares of SBI, Coal India, Future Retail, Eicher Motors, TelecomThe focus will be on Monday.
Coal India, Eicher Motors, Grasim Industries, SpiceJet, Adani Enterprises, Adani Wilmar, Future Retail, Jet Airways, Manappuram Finance, PC Jeweller, Spandana Sporty Financial are among 989 companies that will announce their quarterly earnings on February 14.
SGX Nifty indicates lower opening for Indian benchmarks
SGX Nifty futures were down 216.50 points or 1.25% at 17,137.50 in opening deals on Monday.
Asian stocks fall as US competitors rise as tensions rise in Ukraine
Stocks fell on Monday and crude extended a rally as geopolitical risks over Ukraine rippled through global markets, raising demand for havens such as sovereign debt.
An Asia-Pacific equity index fell more than 1%, with markets from Japan to China and Hong Kong – which have been battling a Covid outbreak – in the red. Energy stocks bucked the trend, climbing as oil joined a winning eight-week run.
S&P 500 and Nasdaq 100 futures fell after sharp losses in Wall Street on Friday.
Japan’s Topix index fell 2%, Australia’s S&P/ASX 200 index fell 0.1%, South Korea’s Kospi down 2.1%, the Hang Seng 1.5% and the Shanghai Composite Index fell 0.4%.
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