Nifty, Sensex to Open Up Today; Dow Futures Flat

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Nifty, Sensex to Open Up Today; Dow Futures Flat

By Aditya Raghunath -- Global cues indicate that Nifty and BSE Sensex will open up today after a bloodbath on Monday where both indices lost around 3% each. Investors lost up to Rs 6.6 lakh crore on fears of a new mutation in the COVD-19 virus. Nifty 50 Futures are up 0.45% in Singapore indicating that the market will bounce back in early trade today.

European markets lost between 1.8% and 2.7% as 40 countries from 5 continents imposed travel bans on the UK, as the newest strain has originated there. However, in the US, the Dow recovered and ended slightly positive after losing over 400 points or 1.4% during the day’s lows yesterday.

S&P 500 and Nasdaq closed in the negative but they recovered a lot of the steep losses that were booked in early trades. US futures are trading flat with Nasdaq up 0.22%, Dow down 0.15% and S&P down 0.05%.

Nikkei 225 is trading at -0.4% and KOSPI 50 at -0.6% at the time of this report. Crude oil prices have also regained the $47 mark after falling below $46.5 yesterday. Fears remain that the new strain that has put most of Britain into lockdown and led to tighter restrictions in Europe, will cause fuel demand to recover slowly.

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