Nifty Mirror Global Markets as it Ends Lower, Dow Futures Point to Weak Opening

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Nifty Mirror Global Markets as it Ends Lower, Dow Futures Point to Weak Opening
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- It’s a gloomy day for stock markets around the world today. Nifty and the BSE Sensex both fell 1.11% each as all sectoral indices ended in the red.

Apart from unsupportive global cues, markets also booked profits as small and midcap indices also lost a percent each. Top losers on the Nifty today were IT stocks: Tech Mahindra (NS: TEML ) (down 3.95%), HCL Tech (NS: HCLT ) (down 3.72%) and Wipro (NS: WIPR ) (down 3.63%).

Oil and gas stocks also suffered led by GAIL (NS: GAIL ) (down 3.33%) and ONGC (NS: ONGC ) (down 3.14%). Bank Nifty dropped 0.84% today. Tata Motors (NS: TAMO ) gained 6.65% followed by Bharti Airtel (NS: BRTI ) at 3.95%. One positive for the Indian markets is that FIIs (foreign institutional investors) have bought equities worth over Rs 6,000 crore in the week.

European markets have opened lower with FTSE trading down 0.83%, CAC down 0.97% and Dax down 0.62%. The continent has been hit with a slew of lockdowns again as COVID cases surge. Despite the news of Joe Biden’s $1.9 trillion stimulus plan, the markets are not positive. France has said that the 6 PM lockdown will be extended to the whole country.

US futures have been trading down as well with Dow Jones 30 Futures down 0.47%, S&P 500 Futures down 0.49% and Nasdaq 100 Futures down 0.36%. Crude oil has been trading at $52.72 having lost 1.59%

U.S. stocks are seen opening marginally lower Friday, as investors bank recent gains after President-elect Joe Biden unveiled his new fiscal stimulus package and with the earnings season starting.

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