May 26, 2021
Expectation of stimulus, falling Covid cases to anchor market direction
The Indian market on Wednesday will likely open on a flat note on lack of clear direction from global markets. However, with with May derivative contracts expiring on Thursday (tomorrow), the market is likely to witness volatility.
However, according to analysts, reports of a Government stimulus package and falling Covid-19 cases are positive triggers.
The SGX Nifty futures is currently ruling at 15,240 (8 am IST), indicating a flat opening for the Nifty. The Nifty May and June futures on Tuesday closed at 15,218 and 15,248.10 respectively.
After opening positive on Tuesday, US stocks too ended flat surrendering initial gains. Similarly, Asia-Pacific markets such as Japan, China, Hong Kong, Australia, Taiwan and Korea are also witnessing a lackadaisical trading on Wednesday.
Read more about CEAT, Pricol: Auto ancillary stocks look set to rally further, charts show on Business Standard. With a "Higher High, Higher low" formation, the stock of Pricol has gradually risen to higher levels recently.
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