Stocks are starting the week weaker as investors brace for bond-market volatility and assess the economic hit from the rapidly spreading Covid omicron variant.
Shares edged lower in Australia and South Korea. U.S. futures slipped after the S&P 500 posted the worst start to a year since 2016 as expectations of faster-than-anticipated U.S. interest-rate increases roiled bond markets. Japan is shut for a holiday Monday.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.5%, while MSCI Asia Pacific Index gained 0.1%. The NSE Nifty 50 Index added 0.4% Friday to 17,812.70.
TCS may react as the company plans to consider buyback. Foreign investors sold net Rs 1,700 crore of stocks on Jan. 6, according to NSDL website.