Three Factors that Will Decide Market Movement Today

By Aditya Raghunath

Investing.com -- It looks like another day of volatility in the Indian markets today. Nifty and the BSE Sensex could swing on the emerging data throughout the day.

1. Asian markets: Asia has opened higher on the back of Japan’s March factory activity. Japan’s PMI (purchasing managers index) has moved up to 52.7 in March from 51.4 in February. Asia has opened up strong and Nikkei is trading up 1.2% at the time of this report while KOSPI 50 and Shanghai Composite Index are up 0.79% and 0.31% respectively.
2. US markets: Markets are all geared up for President Joe Biden’s $2.5 trillion - $3 trillion infrastructure plan though it is unclear how much the tax structure will change. US futures are trading mixed as of this report with Dow Jones 30 Futures and S&P 500 Futures trading flat while Nasdaq 100 Futures are trading up.
3. Domestic numbers: The index for core sector production fell by 4.6% in February, the fastest in six months. This is the largest fall after August 2020. The Maharashtra government has declined to continue with the stamp duty waiver from today. Realty sales in Mumbai, the country’s most expensive and largest real estate market, could see a slowdown. COVID-19 cases continue to rise and brokerage firm JP Morgan has said that another lockdown could be in the works. Crude oil prices have fallen below $60 again as rising COVID cases in the world have impacted demand. Nifty 50 Futures in Singapore are down 0.55% as of this report.