3 Factors that Will Drive Markets Today

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3 Factors that Will Drive Markets Today
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Expect a somber opening for Indian markets on the back of mixed domestic and global cues. Yesterday, April 5, saw Nifty and the BSE Sensex close down 1.54% and 1.74% respectively as Maharashtra, the state that contributes 13.9% to India’s GDP, announced strict lockdowns until April 30.

  1. Domestic cues: COVID fatalities are now rising in tandem with COVID cases. Initially, India saw a huge surge in COVID cases but the number of deaths didn’t go up in the same ratio, However, that is changing now. If this continues, it is likely that other states will follow Maharashtra’s lead.
  2. Lowest manufacturing PMI in 7 Months: India’s manufacturing PMI declined to a 7-month low in March at 55.4 as domestic demand and supply both fell. April is not expected to be any better as more lockdowns get imposed.
  3. Mixed global cues: In the US, the Dow Jones Industrial Average and S&P 500 closed at record levels. However, US futures are muted as of this report. Dow Jones 30 Futures , S&P 500 Futures and Nasdaq 100 Futures are trading down 0.22%, 0.15% and 0.05% respectively. Asia was expected to open higher on the back of US markets’ closures but Nikkei 225 , KOSPI 50 and the Shanghai Composite are down 0.75%, 0.2% and 0.01% respectively. Nifty 50 Futures are trading up 0.17% and this could point to a green opening for Indian markets.

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  • Akshay Patel @Akshay Patel
    Retail investors this time isn't a good for buy. Wait till next week bigfall see in few days
    Like 1
  • sanjay mehta @sanjay mehta
    GDP Down or Market Up.... Wahh... Dollar... teri krupa he Nirmala ji pr
    Like 2
  • Sanyam Malhotra @Sanyam Malhotra
    Market is more than GDP. Because of global QE. PEs are soaring.
    Like 0
  • jagan reddy @jagan reddy
    What about Today nifty openig
    Like 3
  • Balaram Behera @Balaram Behera
    This is an opportunity for investor, 2nd chance... Buy slowly but steadily... New story to begin.
    Like 1
  • Balaram Behera @Balaram Behera
    This is an opportunity for investor, 2nd chance... Buy slowly but steadily... New story to begin.
    Like 3
    • smarty smooth @smarty smooth
      History may repeat but not this early. It was diamond opportunity last year to invest after march fall. I dont think this kind of golden fall will come again till next decade or so. I hope you agree!
      Like 2
    • sumantra chabri @sumantra chabri
      exactly.
      Like 0

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