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MARKET LIVE: Trends on SGX Nifty suggest a negative start for the indices

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SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Markets
Markets
An uptick in stock markets globally supported by a fall in coornavirus cases and expectations of more Chinese stimulus is likely to keep the Dalal Street's mood upbeat today.

Besides, telecom stocks will continue to remain in focus. According to a Business Standard report, the chairmen of Bharti Airtel and Vodafone Idea  met Finance Minister Nirmala Sitharaman yesterday and proposed creating a telecom fund to give soft loans to the service providers and extending the AGR payment timeline.

Foreign fund flow, the Rupee's trajectory, and the oil price movement will also influence investor sentiment.

Indices snapped their four-day losing streak on Wednesday. The S&P BSE Sensex closed 429 points up at 41,323, while Nifty ended 133 points higher at 12,126.

GLOBAL MARKETS

US and European equity indexes scaled fresh peaks on Wednesday after China reported another decline in new coronavirus cases. The Dow Jones Industrial Average rose 0.4 per cent. The S&P 500 gained 0.5 per cent, and the Nasdaq Composite added 0.87 per cent. Asian stocks, too, edged up on Thursday.

MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent. Japan’s Nikkei rallied 1.5 per cent while markets in Australia and New Zealand minted record highs. The SGX Nifty, though, suggested a flat to negative start for the Sensex and Nifty today.

In the commodities market, Brent Crude Futures was hovering over $59 per barrel-mark, up 0.78 per cent. Meanwhile, Gold hit a lifetime high at Rs 41,636 per 10 grams on Wednesday.

(With inputs from Reuters)

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