Market Ahead, March 30: All you need to know before the Opening Bell

Benchmark indices eye a gap-up start to the holiday-shorted week even as the global setup remains mixed. Adjusted SGX Nifty was ruling 150 points higher at 14,770 around 7.20 am. Analysts expect global cues and Covid-related development to guide market action this week.

In the overnight session on Wall Street, financials led the benchmark S&P500 index to a slightly weaker close, down 0.09%, on news that some major banks had liquidated holdings. However, President Joe Biden’s announcement that 90% of adults will be eligible for the Covid-19 vaccine next month helped stocks rally from lows, and the Dow Jones closed at another all-time peak, up 0.3%. Nasdaq, meanwhile, shed 0.6%.

Tracking a mixed close for US stocks overnight, Asia stocks fluctuated in early trade as investors weighed rapid progress in the US vaccine rollout against the broader impact of the Archegos blowup on lenders.

Japan's Topix Index fell 0.8%, Australia’s S&P/ASX 200 Index rose 0.2% and South Korea’s Kospi Index added 0.7%.

That apart, in the oil markets, prices climbed to the highest in almost two weeks as traders looked to this week’s OPEC+ meeting, with speculation that renewed demand concerns will push the group to keep production in check. On Monday, Brent oil rose 41 cents to settle at $64.98 a barrel while U.S. crude rose 59 cents to settle at $61.56 a barrel.

Meanwhile, in other news FTSE Russell has placed the Indian and Saudi Arabian government bond markets on the watchlist for possible inclusion in its FTSE Emerging Government Bond Index, the index provider said. The announcement was included in FTSE Russell’s semi-annual country classification review released on Monday.

Now, a look at the stock-specific triggers that are likely to guide the market today:

Shares of Nazara Technologies will be in focus as they are set to make their stock market debut today. The IPO which ran between March 17-19 was subscribed a whopping 175 times.

Pharma major Dr Reddy's Laboratories expects the Russian coronavirus vaccine Sputnik V to get approval from the Indian regulator in the next few weeks, a company official has said.

Adani Transmission has signed a definitive agreement with Essel Infraprojects for acquisition of Warara-Kurnool Transmission for Rs 3,370 crore.

Vascon Engineers has received letter of acceptance amounting to Rs 515.63 crore from Uttar Pradesh Public Works Department for establishment of new medical colleges.

JSW Energy's board has approved a proposal for issuance of green bonds by JSW Hydro Energy, the company's material subsidiary, for raising $750 million from international markets.