By Aditya Raghunath
Investing.com -- All three major U.S. indices ended lower on Wednesday as COVID-19 cases in the country refuse to come down, and the country is set to impose more restrictions. The Dow Jones and S&P 500 were both down 1.16% while the Nasdaq ended lower by 0.82%.
Two indices to keep an eye on in India are the NIFTY Midcap 100 index and Nifty Auto. Both of them have had good runs with the mid-cap gaining 1.69% on Wednesday and the auto index going up by over 3%.
While M&M (NS:MAHM) shares closed up 10.36% on news of its tractor manufacturing, Eicher Motors (NS:EICH) (up 2.88%) rose as supply-chain bottlenecks with respect to its Royal Enfield (RE) motorcycle brand got resolved.
The company was able to produce 70,000 units in October compared to 30,000 units in June. RE says that inquiries at its showrooms have reached pre-COVID levels and these are very encouraging signs.
However, there is concern that Delhi, India’s capital, might be forced to implement partial or full lockdowns as it recorded its highest ever death toll with 131 COVID deaths on Wednesday.
In Asia, Japan’s Nikkei 225 is down 0.61% and the KOSPI is trading 0.41% lower. Nifty Futures is also trading 0.9% lower on last look.
Crude oil prices have fallen 0.41% to $41.65. Gold has also fallen 0.22% to trade at $1,869 an ounce.