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April 22, 2021
SGX Nifty points a 100-point gap-down opening
Indian markets continue to be on the edge as rising Covid crisis and its impact on the economy haunt investors, especially foreign institutional investors. While the global markets, both the US and Asian markets, are giving out bullish signals, SGX Nifty at 14,193 (8 am) indicates at least a 100-point gap-down opening for Nifty futures, which on Tuesday closed at 14,296 on the NSE.
Overnight, US stocks closed about one per cent higher. Following suit, Asian stocks such as Japan, China, Korea and Hong Kong are significantly up in the range of 0.4-1.8 per cent. Australian markets, however, are ruling flat with marginal gains.
Nifty, Sensex likely to open weak tracking global peers
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Indian stock markets are expected to open weak on Tuesday as the US market slipped overnight. The SGX Nifty futures is currently ruling at 14,477, down almost 20 points against the Nifty futures Monday s close of 14,493.50.
On Monday, the BSE Sensex closed above the psychological level of 49,000, rising 486.81 points or 1 per cent to 49,269.32 on January 11 while the Nifty50 climbed 137.50 points to 14,484.80.
US Markets
Wall Street’s main indexes closed lower on Monday as investors took some profits after last weeks’ records while they waited for earnings season to begin and eyed events in Washington with trepidation. The Dow Jones Industrial Average fell 89.28 points, or 0.29 per cent, to 31,008.69, the S&P 500 lost 25.07 points, or 0.66 per cent, to 3,799.61 and the Nasdaq Composite dropped 165.54 points, or 1.25 per cent, to 13,036.43.