Will Nifty and BSE Sensex Continue to Remain Sluggish Today?

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Will Nifty and BSE Sensex Continue to Remain Sluggish Today?

By Aditya Raghunath

Investing.com -- Global cues point to a red opening for Nifty and the BSE Sensex today. Nifty Futures in are trading down 0.8% and that indicates a significant lower opening for the markets. Expect the downward momentum to continue from yesterday when metals dragged the markets down. 

 
Rising Treasury bond yields in the US are a concern and remarks by US Fed Chairman Jerome Powell on Thursday did nothing to assure investors. Nasdaq dropped 2.11% yesterday as the sell-off from tech stocks continued. The Dow Jones Industrial Average and S&P 500 also lost over 1% each yesterday. 
 
Powell said that the easy money policy will continue until Americans get back to work normally. Investors have doubted whether he can continue with this stance as the economy recovers.
 
The spillover from Wall Street has affected Asian markets today. Nikkei 225 is trading down 1.9%, KOSPI 50 is down 1.47% and the Shanghai Composite is down 0.58%. All markets have an eye out on the US bond yields and the expectation is not positive.
 
As equity markets take a hit, crude oil prices have recovered very smartly and are now trading at $64.36. Rising oil prices bode well for energy stocks while airlines will take a further hit as their margins will be squeezed at a time when aircraft are already flying below capacity.

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100
  • Ginni Ramesh Reddy @Ginni Ramesh Reddy
    Monday is 15600 tak up hosakte
    Like 0
  • Ginni Ramesh Reddy @Ginni Ramesh Reddy
    14800
    Like 2
  • Roshan Kumbhre @Roshan Kumbhre
    it will be range bound and weak zone until 15200 Nifty50
    Like 0
  • Roshan Kumbhre @Roshan Kumbhre
    it will be range bound and weak zone until 15200 Nifty50
    Like 0
  • Roshan Kumbhre @Roshan Kumbhre
    it will be range bound and weak zone until 15200 Nifty50
    Like 0
  • Avinash Kumar @Avinash Kumar
    today above 15300 nifty 50
    Like 1

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