MARKETS: Nifty breaks below 16,800 in pre-open, Sensex slides over 500 pts

by Admin

[ad_1]


Pre-open session

LIVE market session: Benchmark indices are suggesting a weak start for the Indian markets. The BSE Sensex is down nearly 550 points at 56,669 levels. The Nifty50, too, was below 16,800-mark at 16,796 level.


BREAKING NEWS:






According to TV reports, the Finance Ministry has asked market regulator Sebi to halt trading in certain commodity derivatives (Paddy, Wheat, Chana, Mustard Seeds, Soya Bean, Crude Palm Oil & Moong) for 1 year.


======================================================================

LIVE market updates: A gap-down start could be on cards for key benchmark indices as global sentiment remains cautious amid rising Omircon coronavirus cases wordlwide.


At 8:10 AM, SGX Nifty was down around 100 points at 16,900 levels, compared with Nifty’s spot close of 16,985 on Friday.


Stock-specific news flow, FII activity, primary market action, and global cues will guide investors today.


Primary market action

Shriram Properties will be in focus today as the stock makes its debut on Monday.


Besides, Supriya Lifescience IPO, which so far has received subscription up to 5.69 times the issue size, will close today.


Global cues

The US markets ended with significant losses on Friday. The S&P 500 was down a per cent, while Dow Jones plunged 1.5 per cent. The Nasdaq, however, was down just 0.1 per cent.




Meanwhile, oil prices rose on the back of upbeat US Fed economic outlook. Brent crude was up 1.5 per cent at $75.02 a barrel, and WTI crude added 2.1 per cent to $72.38 a barrel.



Major markets in Asia this morning were largely negative. Kospi had shed 0.9 per cent. Nikkei had slipped 0.6 per cent, while Hang Seng and Straits Times were down 0.5 per cent each. Taiwan was down 0.1 per cent, while Shanghai was up 0.1 per cent.

mail Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



[ad_2]

Source link

Related Posts

You May Missed