Good Morning!

Indian equities posted gains last week after consolidating in a range for four out of the five trading sessions.

The S&P BSE Sensex and NSE Nifty 50 have gained more than 11% so far this month — their best in February since 1996. FPIs have poured in excess of Rs 22,000 crore into India’s markets following the positive sentiment surrounding the Union Budget.

Futures are pointing to a positive start to the new week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.6% to 15,253 as of 7:50 a.m. on Monday.

With the earnings season for the quarter ended December in its final leg, stocks like ONGC, Vodafone Idea, Info Edge, Phoenix Mills, among others, may react to their results reported after market hours on Friday and over the weekend.

Asian equities are trading higher with South Korean shares outperforming this morning. The Nikkei 225 index touched the 30,000 mark for the first time since 1990.

Futures on the Dow Jones are trading with gains of 130 points. The index eked out modest gains on Friday.

Markets in China, Hong Kong and Taiwan remain shut, while those in the U.S. will be closed today on account of Presidents’ Day.

The U.S. dollar was little changed, while Bitcoin approached the $50,000 mark.

West Texas Intermediate rose 1.9% to $60.58 per barrel as an arctic freeze gripped parts of the U.S.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.