April 16, 2024

Paull Ank Ford

Business Think different

MARKET LIVE: Sell-off likely to continue as SGX Nifty falls over 400 pts

The newsflow concerning the spread of the novel coronavirus and the response of the governments and central banking companies earth in excess of will go on to be the selection just one bring about for the markets. The selection of novel coronavirus circumstances rose to a hundred and ten in India, with twelve fresh circumstances claimed in Maharashtra on Sunday. The virus has contaminated far more than one hundred fifty,000 people today all over the world and killed in excess of five,600.
Yet another crucial event right now would be the listing of the SBI Cards and Payment Providers on the bourses, despite the fact that professionals say that the deep promote-off in the markets in the last number of days could dampen the anticipations of a blockbuster listing.

On the macroeconomic entrance, investors will monitor the WPI inflation details which is scheduled to be introduced afterwards in the day.

World-wide CUES

The US Fed’s most up-to-date action did very little to allay investor fears as the US stock futures strike their down restrict right before daybreak in Singapore. Japan’s Nikkei was down .three per cent in early trade and Hong Kong slipped in excess of two per cent although Austrlia’s ASX tumbled in excess of 6 per cent. Even the SGX Nifty was down in excess of 300 points, indicating a subdued start for Sensex and Nifty right now.

In commodities, oil price ranges prolonged losses on Monday, slumping by far more than $1 a barrel. Brent crude fell $1.83 to $32.02 a barrel.