Market Ahead, April 1: All you need to know before the Opening Bell

Indian looked set to kick off the new financial year on an upbeat note, tracking firm cues from global peers, but the session could be marked by high volatility on account of weekly F&O expiry. At 7.25 am, SGX Nifty traded 97 points or 0.66 per cent higher at 14,843, indicating a gap-up start for benchmark indices.

However, weak macro cues could contain the upside for the bulls on Dalal Street. The index of eight core industries contracted by 4.6% in February from a year ago, after a gap of two months and at the sharpest pace since August, validating fears that recovery in the industrial growth would be slower than expected.

Meanwhile, on the global market front, S&P 500 and Nasdaq closed higher, led by gains in technology shares as investors positioned themselves for President Joe Biden’s $2 trillion infrastructure plan.

The Dow Jones Industrial Average fell 0.26% as investors favored growth over value shares. While the S&P 500 gained 0.36% and the Nasdaq Composite added 1.54%.

Tracking firm finish for US stocks, Asian market edged higher. Japan’s Topix index rose 0.9%, Australia’s S&P/ASX 200 Index gained 0.1% and South Korea’s Kospi index added 0.6%.

In the oil markets, crude prices nursed overnight losses with Brent futures rebounding about 0.5% to $63.03 a barrel and U.S. crude up 0.6% at $59.52. Investors will keep a close watch on OPEC+ meet outcome regarding production levels for May.

A look at the stock-specific triggers that are likely to guide the market today:

Shares of auto companies will be in focus as they are set to unveil their March sales figures today.

Central Bank of India said it has cancelled an agreement to sell its stake in housing finance subsidiary to Centrum.

Axis Bank has entered into a share purchase agreement for sale of 100 per cent stake in its subsidiary, Axis Bank UK Ltd, to OpenPayd Holdings.

Bharti Airtel and Vodafone Idea failed to pay the first instalment towards AGR dues to the Department of Telecommunications. The first instalment had to be paid on March 31.

Likhitha Infrastructure said it had received orders worth Rs 200.22 crore from various oil & gas distribution Companies during the March quarter 2021.

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