On the first day of the trading week, the signs are not very good for Indian share markets today. SGX Nifty started off with a slight decline, is now around 11930 and is doing a fairly flat business. US futures markets are seeing a sharp decline. Dow Futures is trading down 150 points, Nasdaq Futures is also down by 50 points. Asian markets are mixed. Japan’s Nikkei is showing strength of 40 points, while China’s Shanghai is weak by 30 points, while Cospi is flat. Hong Kong markets are closed today
Overseas market on Friday
On Friday, foreign markets traded with huge fluctuations. Dow Jones recovered 185 points from its lower levels to close with a weakness of 28 points, Nasdaq had a weakness of 42 points, while the S & P500 closed up 12 points.
The Corona fear on European markets is over and they are once again firmly closed. London’s FTSE, France’s CAC40 and Germany’s DAX have closed with a strong strength of 1.25%.
Signal from overseas markets
There is still hope regarding the relief package in US markets. Negotiations on the relief package are going on, but so far nothing final has been done. Today in America, results of big companies like Apple, Facebook, Alphabet, Amazon and Boeing will come. The market is focused on this.
The surge in new cases of Corona in America has increased concerns. On Friday and Saturday, there are a record 83 thousand cases of newly infected patients in the US. There has been an upsurge in corona cases in Europe too. New sanctions have come into force in Spain, Italy.
In addition, the third quarter GDP data will be available in the US and Europe. The policy of the European Central Bank ECB and Bank of Japan will also be monitored. China’s leaders will meet today for the next five years on policy and plans.
According to Anil Singhvi, managing editor of our associate channel Zee Business, this week will be a lot of action for Indian markets. The results of the US presidential election and the monthly expiry and many companies will come. Especially Wednesday and Thursday will be very action packed day. Today, the Indian market will be seen to be trading within a limited range. Both the stock specification and the sector specification will have to be.
According to Anil Singhvi, today the support range for the Nifty will be 11825-11875 and the upper range is 11975-12025. The support range for Bank Nifty will be 24100-24250 and upper range 24650-24800.