SGX Nifty indicates 200 points decline for Nifty
May 11, 2021
Four day rally may take a pause on weak global cues
Indian markets are expected to open bearish on Thursday, amidst concern over Covid impact and weak global cues. The SGX Nifty, which currently rules at 14,783 (8 am IST) on the Singapore Stock Exchange, indicates at least 200 points gap-down opening for Nifty futures, which on Monday closed at 14,984.65
The US markets, after opening on a firm note on Monday failed to sustain the gains and closed in the red. The Dow Jones Industrial Average slipped marginally, while S&P 500 and Nasdaq crashed over 1 per cent and 2 per cent respectively. Tracking the US markets, the Japan’s Nikkei is down 2.5 per cent in early trade on Tuesday. Other markets such as Korea, Australia, Taiwan and China are down between 0.8 per cent and 1.5 per cent.