Markets Likely to Open Lower on US Economy Slowdown Fears

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Markets Likely to Open Lower on US Economy Slowdown Fears
Credit: © Reuters.

By Aditya Raghunath -- Nifty 50 Futures  in Singapore are trading lower 0.34% indicating a gap-down opening for Nifty 50 and the BSE Sensex 30 .

Market analysts say that the lower support level for Nifty is in the 17,250-17,300 range, and any fall below that range could result in more weakness.

LIC has appointed Kotak Mahindra (NS: KTKM ) Capital Company, Goldman Sachs (NYSE: GS ) India Securities, JP Morgan India, ICICI Securities, JM Financial (NS: JMSH ), Citigroup (NYSE: C ) Global Markets India, Nomura Financial Advisory and Securities (India), Axis Capital, DSP Merrill Lynch, and SBI (NS: SBI ) Capital Markets as book running lead managers, says a circular on DIPAM website.

Foreign institutional investors continued to sell Indian equities on Wednesday, and were net sellers to the tune of Rs 802.51 crore.

Wall Street closed lower on Wednesday as concerns over the delta variant of the COVID-19 virus slowing down economic recovery grew. Questions over the US Fed’s interest rate hike and tapering continue to hang without any answers.

Several US officials have said that tapering could start this year which is creating uncertainty in the market. As of this report, Dow Jones 30 Futures and S&P 500 Futures are down 0.21% each while Nasdaq 100 Futures are down 0.18%.

Asian stocks have also opened lower today. Nikkei 225 is trading down 0.46%, KOSPI 50 is down 0.87% and the Shanghai Composite is down 0.16%.

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  • Lalit Shah @Lalit Shah
    Like 0
  • Lalit Shah @Lalit Shah
    Fii and FDI may selling But so many indian stocks can give quadruple return from it's current market price.
    Like 0

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