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

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.

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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

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.

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