Will Nifty and BSE Sensex Open In the Red Today as GDP Numbers Under the Radar

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Will Nifty and BSE Sensex Open In the Red Today as GDP Numbers Under the Radar

By Aditya Raghunath

Investing.com -- Expect volatility in Indian markets as participants will wait for the quarterly GDP numbers that the government will release today. Nifty Futures are trading down 0.65% and that is an indicator that markets will open in the red today.

 
Nifty and the BSE Sensex have been rallying for the last two trading sessions after a surge in energy and metal stocks. Commodity prices across the world are rising as economies are on the verge of normalizing post lockdowns.
 
Bank Nifty has also gained momentum on several encouraging statements from Finance Minister Nirmala Sitharaman with respect to opening up government businesses to private banks. It might be a day of consolidation for the Indian markets today.
 
Markets will also be awaiting the debut of mini ratna RailTel Corporation of India, one of the country's largest neutral telecom infrastructure providers, today. 
 
Yesterday Nureca, a healthcare and wellness player made its debut on the markets and closed up over 61% from its issue price. If market momentum continues today, expect both stocks to go up. If not, RailTel could have a muted listing.
 
Asian markets have opened sharply in the red today, with Nikkei 225 down 2.39%, KOSPI 50 down 2.43% and Shanghai Composite down 1.61%.
 
US markets closed lower yesterday with Nasdaq 100 having its worst day since October, closing down 3.45% as the sell-off in tech stocks continued. Dow Jones Industrial Average and S&P 500 also closed sharply lower. 
 
 

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