4 Reasons Why Nifty, BSE Sensex Likely to Open Flat Today

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4 Reasons Why Nifty, BSE Sensex Likely to Open Flat Today
Credit: © Reuters.

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.

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  • Akshaya Parida @Akshaya Parida
    15940 this week
    Like 0
  • sheikh sarwar @sheikh sarwar
    nifty will touch 16000 next week
    Like 0
    • Sajeevan Nair @Sajeevan Nair
      @sheikh sarwar Justify, please.
      Like 0

      • Comment Guidelines

      We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

      • Enrich the conversation
      • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
      • Be respectful. Even negative opinions can be framed positively and diplomatically.
      •  Use standard writing style. Include punctuation and upper and lower cases.
      • NOTE: Spam and/or promotional messages and links within a comment will be removed
      • Avoid profanity, slander or personal attacks directed at an author or another user.
      • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
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  • sheikh sarwar @sheikh sarwar
    nifty will touch 16000 next week
    Like 3
  • sheikh sarwar @sheikh sarwar
    nigty el touch 16000 next week
    Like 0
  • Abhishek Chogale @Abhishek Chogale
    15000confirm
    Like 0
  • Vijay Padhar @Vijay Padhar
    🙂
    Like 0
  • shital Mane @shital Mane
    Will touch 14500 today
    Like 4
  • Anurag Shukla @Anurag Shukla
    it will touch 14990 level today
    Like 1

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