D-Street’s Opening Ahead of Weak Global Cues, TCS’ Q4 Results & Key Factors

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 0.72% lower at 8:35 am on Monday, indicating Dalal Street to start the week on a negative tone.

At the same time, the Dow Jones Futures tumbled 0.42% and Nasdaq 100 Futures dropped 0.76%.

Companies including TCS (NS: TCS ), Delta Corp (NS: DELT ), and Kesoram Industries (NS: KSRM ), among others will release their quarterly earnings for Q4 FY22 on Monday.

US stocks ended a volatile session on a mixed note on Friday, recording the worst week in the past four, as investors prepared for the Fed’s aggressive monetary tightening to tame the soaring inflation.

Major indices on Wall Street, Nasdaq Composite declined 1.34%, S&P 500 dropped 0.27% and Dow Jones gained 0.4% on Friday. On a weekly basis, Nasdaq plunged 3.86%, S&P 500 lost 1.27% and the Dow dipped 0.28%.

Stocks across the Asian markets lowered on Monday, as the week ahead flocks with central bank meetings and U.S. inflation data, while the euro eked out a gain on relief the far right did not win the first round of the French presidential elections, stated Reuters.

At 8:27 am, South Korea’s KOSPI dropped 0.52%, Japan’s Nikkei 225 fell 0.7%, and MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.16% higher.

At the same time, Hong Kong’s Hang Seng index plunged 2.53%, while China’s Shanghai Composite declined 2.02%.

Oil dropped over $2/barrel at the time of writing, falling for the second consecutive week starting Monday, as world consumers announced plans to release a record volume of crude and oil products from strategic stocks, while Covid-19 lockdowns in China continued.