Nifty Could Open Lower Today as US Jobless Claims Jumped

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Nifty Could Open Lower Today as US Jobless Claims Jumped

By Aditya Raghunath -- All indicators point to a negative opening for Indian markets. Nifty that closed 0.59% down and the BSE Sensex that closed 0.73% lower yesterday are expected to continue downward momentum today. Nifty Futures in Singapore are trading 0.21% lower at the time of this report which is a strong cue for a redstart.

Crude oil has lost close to 3% since yesterday and is trading at $58.8. This could spell bad news for Indian oil and energy stocks that gained between 4%-8% yesterday.

FIIs (foreign institutional investors) were net buyers in the Indian equity market yesterday with Rs 903.07 crore whileDIIs (domestic institutional investors) were net sellers at Rs 1,217.34 crore.

US jobless claims jumped to 861,000 provings that unemployment is a major challenge for the country despite a drop in COVID cases. All three major US indices fell yesterday as the news sunk in. DJIA was down 0.38% while S&P 500 and Nasdaq lost 0.44% and 0.72% respectively. US futures are also trading lower as of this report. Dow Jones 30 Futures , S&P 500 Futures and Nasdaq 100 Futures are down 0.34%, 0.42% and 0.56% respectively.

Asian markets are trading lower today with Nikkei 225 down 0.96% and KOSPI 50 down 1.45% as negative sentiment from US markets spread across the globe.

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  • vaibhav joshi @vaibhav joshi
    Nifty & BANKNIFTY will fall but it has nothing to do with U.S jobless data. While mkt is falling or rising .... everybody is in search of reason behind it.
    Like 3

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