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Sensex, Nifty Likely To Have A Gap-Down Opening On Weak Global Cues

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Sensex, Nifty Likely To Have A Gap-Down Opening On Weak Global Cues

At 7:30 am, the Nifty futures were trading lower by 1.6 per cent on Singapore Stock Exchange

The domestic stock markets are likely to open in the red in line with negative global cues. Trends on SGX Nifty indicate a gap-down opening for the Nifty, with a 216-points loss. At 7:30 am, the Nifty futures were trading at 15,305, lower by 216 points or 1.6 per cent, on the Singapore Stock Exchange.

Asian shares slipped again on Monday while perceived safe haven assets, including the yen and gold, edged higher as investor risk appetite was soured by fears of rising inflation and a relentless surge in coronavirus cases.

Japan’s Nikkei dropped 1.3 per cent, South Korea’s KOSPI was 1 per cent lower and New Zealand’s shares were off 0.4 per cent.

Wall Street ended lower on Friday, weighed down by declines in Amazon, Apple and other heavyweight technology stocks, while investors worried about a rise in coronavirus cases tied to the highly contagious Delta variant.

The Dow Jones fell 0.86 per cent, while the S&P 500 lost 0.75 per cent and Nasdaq Composite dropped 0.8 per cent.

In the primary market, the specialty chemical company Clean Science & Technology will list on the bourses today.

In Corporate earings, HCL Technologies, HDFC Life Insurance Company, ACC, Indian Bank and Mastek will declare their numbers during the day.

On Friday, the Sensex and Nifty touched fresh record highs of 53,290.81 and 15,962.25 respectively in intraday trading, before ending flat.