By Aditya Raghunath
Investing.com -- It looks like Indian markets are in for a subdued start on the last day of the financial year. After Nifty and the BSE Sensex gained 2.33% and 2.3% respectively, both could open flat today and here's why.
- Nifty 50 Futures are trading down 0.43% which usually indicates a flat or red opening for Indian markets.
- COVID-19 cases in India are rising at a very fast clip and various state governments have imposed curbs and curfews again.
- Asian markets have also opened lower with Nikkei 225 down 0.78%, KOSPI 50 down 0.27%, and the Shanghai Composite down 0.87%.
- Moody’s Analytics, a financial intelligence firm, said yesterday that inflation in India is uncomfortably high with retail inflation going up to 5% from 4.1% in February.
All three major US indices dropped yesterday with the Dow Jones Industrial Average falling 0.31%, S&P 500 down 0.32% and Nasdaq falling 0.11%. Japan’s factory output fell in February and this has given rise to fears that economic recovery may stall again. All eyes are now on China’s factory output status.
Oil prices have fallen to below $61 levels after the Suez Canal opened up.