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US stock markets closed lower on Monday even as oil prices fell and bond yields rose sharply on the back of various impacts on the economy from the war in Ukraine, upcoming rate hikes from the Federal Reserve and new virus lockdowns in China. The S&P 500 fell 31.20 points to 4,173.11. The Dow Jones Industrial Average rose 1.05 points to 32,945.24. The Nasdaq fell 262.59 points to 12,581.22.

Asian Equities | Asian stocks were in the red on Tuesday as surging COVID-19 cases in China hit the confidence of investors who are already worried about the Ukraine war and the first US interest rate rise in three years, which could come this week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.91 percent, led by Chinese stocks. Hong Kong's Hang Seng Index remains mired in negative territory, dropping 3.8 percent early on Tuesday.

SGX Nifty | Trends on SGX Nifty indicate a negative start for the broader index in India, with a loss of 110 points or 0.65 percent. The Nifty futures were trading around 16,773 level on the Singaporean Exchange at 7:30 IST.

D-Street | Indian equity benchmarks Sensex and Nifty50 extended gains to the fifth trading session in a row on Monday, led by gains in financial and IT shares, shrugging off weakness across most global markets. Losses in metal and select oil & gas shares limited the upside for headline indices. Broader markets finished the choppy day with mild gains.

Brent Crude | Oil prices tumbled on Monday as investors weighed positive comments from ceasefire talks between Russia and Ukraine. US Treasury yields hit two-and-a-half year highs on expectations of a first US rate hike. Brent futures fell 5.1 percent to settle at $106.90 a barrel, while US West Texas Intermediate (WTI) crude fell 5.8 percent to settle at $103.01.

Rupee | The rupee declined by 11 paise to close at 76.55 (provisional) against the US dollar on Monday amid moderating crude oil prices and foreign fund outflows. High inflation also affected market sentiment, forex dealers said.

Gold prices | Gold and silver futures dropped on Monday taking cues from the international rates. On the Multi Commodity Exchange (MCX), gold futures, due for an April 5 delivery, were last seen 0.5 percent down at Rs 52,611, compared to the previous close of Rs 52,878.

Cryptocurrency | Crypto markets remained under pressure as investors watched the growing tension between Russia and Ukraine. Barring the dollar-pegged stablecoins and Terra, all of the top digital tokens were trading lower on Monday. Avalanche tumbled 6 percent, followed by a 4 percent fall in Dogecoin, Shiba Inu and XRP each. Bitcoin fell over 1 percent.

Russia-Ukraine War | Talks between Russian and Ukrainian officials are expected to resume on Tuesday. Ukraine said today that it would demand an immediate ceasefire and the withdrawal of Russian troops during the fourth round of negotiations to end more than two weeks of fighting after Moscow launched an invasion of Ukraine.

Federal Reserve | The US Federal Reserve is set to raise rates for the first time since the pandemic at its meeting which concludes Wednesday, with traders looking for indications about the pace of future rate hikes. The development comes at a time when war clouds over Russia and Ukraine have intensified and impacted several key commodity prices, and especially that of crude oil.

First Published:Mar 15, 2022 8:08 AM IST