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.
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