Sensex, Nifty Likely To Have A Weak Opening (November 19)Page Visited: 10
The domestic stock markets are likely to open in the red, after hitting all-time highs in the previous session, following weak global cues. Trends on SGX Nifty indicate a negative opening for the index in India, with a 102 points loss. At 7:30 am, the Nifty futures were trading at 12,892, lower by 102 points or 1 per cent on the Singapore Stock Exchange.
Asian stocks followed Wall Street’s sharp selloff on Thursday as concerns about rising coronavirus infections and new shutdowns in major U.S. cities hosed down earlier investor enthusiasm about COVID-19 vaccine developments.
Australia’s S&P/ASX 200 lost 0.5 per cent in early trading, while Hong Kong’s Hang Seng index futures lost 0.02 per cent. Japan’s Nikkei 225 fell 0.4 per cent.
US stocks closed steeply lower after a late-session sell-off on Wednesday as investors weighed surging COVID-19 infections and mounting shutdowns against encouraging vaccine developments.
The Dow Jones fell 1.16 per cent, Nasdaq Composite dropped 0.82 per cent and S&P 500 lost 1.16 per cent.
Meanwhile, U.S. crude futures fell in early trade on Thursday, giving up some of gains from the previous day as surging COVID-19 cases and widening lockdowns raised fears over fuel demand, offsetting further upbeat vaccine news.
U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.9 per cent, to $41.43 a barrel by 0039 GMT, after gaining nearly 1 per cent on Wednesday. Brent crude was yet to trade, having risen 1.4 per cent on Wednesday.
On Wednesday, the BSE Sensex ended 227 points or 0.52 per cent higher at 44,180 and Nifty 50 index advanced 64 points or 0.5 per cent to close at 12,938.