Markets are likely a see a quiet opening as Asian stocks slip

Slip in the crude oil prices has rekindled fears over the health of the global economy

Markets are likely to see a quiet opening mirroring mixed global cues following slip in the crude oil prices rekindling fears over the health of the global economy.

GLOBAL MARKET

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Asian stocks took a step back on Monday after three consecutive weeks of gains as a retreat in oil prices left investors in a ponderous mood about the health of the global economy. Jpan's Nikkei and early indicator SGX Nifty are down 0.3%-1.5%. However, China's Shanghai Composite and Hong Kong's Hnag Seng are up 0.4%-2%.

Oil prices slipped for a second day, extending Friday's slide of over 1 percent after the U.S rig count rose for the first time since December, renewing worries of a supply glut after an output freeze proposal had helped boost the market to 2016 highs.

With Japan closed for a holiday, Antipodean markets were broadly mixed in morning trade with New Zealand .NZ50 up slightly and Australia easing 0.1%.

STOCKS IN FOCUS

Aurobindo Pharma has received a final nod from the US health regulator to manufacture and market its generic Naproxen Sodium tablets used for the treatment of osteoporosis in postmenopausal women. 

Maruti Suzuki is likely to witness action as the market leader Maruti Suzuki is racing ahead in the domestic segment, capturing a 14-year-high share in it on the back of double-digit growth in sales, t

ITC is likely to see an uptick after the FMCG major on Sunday said that sales of its instant noodles brand Yippee are recovering and its market share has risen to anywhere between 30 and 40 per cent.

US-based Smallcap World Fund has acquired stake worth Rs 188.49 crore in Page Industries, the licensee of Jockey International innerwear brand, via an open market transaction. 

Torrent Pharma plans to raise funds through various instruments including qualified institutional placements (QIP). 

Reliance Power has decided to to raise up to Rs 1,000 crore via issue of non-convertible debentures.

With Reuters Input