Market may see gap-down opening on Thursday
Indian equity markets are likely to open in the green on Thursday tracking strong global cues and the recent ramp-up in vaccine drive announced by the country.
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 125 points at the opening bell.
Global markets: Overseas, Asian stocks are trading higher on Thursday following an overnight bounce on Wall Street. In US, Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc’s sell-off after its disappointing results a day earlier. Both the S&P 500 and Dow hit all-time highs.
Domestic markets: Back home, stock markets were shut on Wednesday on account of Ram Navami. The domestic equity barometers ended with modest losses after a volatile trade on Tuesday. A record surge in Covid-19 cases and FII outflows from the capital market dented investors sentiment. The barometer index, the S&P BSE Sensex, fell 243.62 points or 0.51% to 47,705.80. The Nifty 50 index lost 63.05 points or 0.44% to 14,296.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,082.33 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,323.01 crore in the Indian equity market on 20 April, provisional data showed.
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