MARKET LIVE: SGX Nifty signals a negative start for Sensex, Nifty

LIVE market updates: The SGX Nifty trends indicated a negative start for the Indian benchmark indices on Friday, on the back of mixed cues from Asian indices. Meanwhile, another record high in terms of daily Covid-19 cases could sour investment sentiment.

India added another 1.31 lakh Covid-19 cases on Thursday, according to Worldometer. Prime Minister Narendra Modi, on Thursday, in a meeting with chief ministers, said that states should focus on micro-containment zones and increase testing.

Global cues

On Wall Street, the Dow Jones Industrial Average rose 0.17 per cent, the S&P 500 gained 0.42 per cent, and the Nasdaq added 1.03 per cent.

US Federal Reserve Chairman Jerome Powell signaled on Thursday the central bank is nowhere near reducing its support for the US economy, saying at an International Monetary Fund event that while the economic reopening could result in a momentary surge in prices, he expects it to be temporary and it will not constitute inflation.

Asian equities, meanwhile, were mixed in early trading on Friday. Australian ASX 200 fell 0.3 per cent, while Hong Kong’s Hang Seng index fell half a per cent. Meanwhile, Japan’s Nikkei was up 0.45 per cent.

(with inputs from Reuters)