· NSE shares surges in grey market, bourse now valued at Rs 87,000 cr
· Oxygen suppliers on a high on Dalal Street
· Investors turn focus back to Covid beneficiaries
· Indian crypto prices get delinked from global trends
Hi there. Welcome to ETMarkets Morning, the show about money, business and markets. I am Sandeep Singh.
Let’s start with a quick glance on the state of the markets.
Dalal Street looked set for a strong start this morning, with Nifty futures on Singapore Exchange trading about 60 points higher ahead of the opening of Indian markets. Stocks slipped at the open in other Asian markets. US stocks closed lower on Monday, slipping from last week’s record levels, as investors awaited guidance from first-quarter earnings to justify high valuations. Dow fell 123.04 points, which is almost half a per cent. In currencies, the dollar slipped, while the British pound rose about 1%. US Treasury yields edged back up and 10-year benchmark advanced 2 basis points to 1.60%. Oil edged higher towards $64 a barrel, aided by a weaker dollar, as traders monitored a patchwork demand recovery from the pandemic.
That said, here’s what else is making news.
Crypto currency prices in India are getting delinked from global peers. While an early Sunday flash crash shook traders in the world’s cryptocurrency hotspots, the prices of Indian cryptos — which should ideally shadow global prices in a seemingly seamless and decentralised system — rose on Monday. A premium of about 3% that Indian crypto rates usually