Expect a Sober Start for Markets as Maharashtra Locks Down Again

  • Investing.com
  • Stock Market News
Expect a Sober Start for Markets as Maharashtra Locks Down Again

By Aditya Raghunath

Investing.com -- Nifty and the BSE Sensex are likely to open flat to negative after Maharashtra, the country’s richest state, instituted lockdowns until the end of April as COVID cases in the state hit record highs. Malls, restaurants, gyms, bars, and salons among other services will be shut. Private offices will work from home while government offices will operate at 50% capacity. Nifty 50 Futures are trading down 0.2% at the time of this report.

Barbeque Nation which lists on April 7 is not expected to have a very good debut on the stock market. The GMP (grey market premium) for the stock fell to Rs 10-Rs 12 over the weekend from Rs 50 prior.

While the markets are expected to see a sell-off today, it could be limited unless other states decide to impose a lockdown as well. Last week, Jefferies had said that the Indian market hasn’t priced in renewed lockdowns. If Maharashtra can be contained, the pain in the markets could be short-term.

US jobs market posted a better-than-expected recovery for March and that has caused Asian markets to open up strong with Nikkei 225 up 0.77%, KOSPI 50 trading flat and the Shanghai Composite up 0.52% at the time of this report.

 

Add Chart to Comment

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.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles