Wednesday was a very bad day for Indian share markets. The Sensex once again slipped below 40,000 and closed. Today, there is a monthly expiry of the Indian markets. Also, signals from foreign markets are once again quite bad. That is why even today a sharp decline can be seen in the Indian stock market.
Today the SGX Nifty opened with a loss of 100 points, but it is showing a slight recovery as well, currently it is trading around 11650, although the US futures markets are showing strength. Dow Futures is trading 250 points strong and is trading around 26650, Nasdaq Futures is also showing strength of 86 points, it is also staying at the level of 11220.
In Asian markets, Japan’s Nikkei is trading down by nearly 200 points, while Korea Stock Exchange Kospi is also showing a decline of up to 2%. The Hong Kong market is trading with a decline of 460 points.
How are foreign markets tomorrow
Because of the second wave of Corona crisis, Wednesday was a day of destruction for the stock markets of the whole world. The US stock market fell flat yesterday. In the United States, Dow Jones broke about a quarter to four percent. Dow Jones slipped 943 points to a level of 26500. The Dow Jones 1800 mark is broken in 3 days. America’s volatility index has seen a jump of 20 percent, and it has reached a height of 4 months, which is not a good sign.
Wednesday has been the worst day for American futures markets since July. The S & P500 also lost more than 3.5% yesterday. The Nasdaq also broke down to 3.73 percent. European markets also fell from 2.5% to 4%. London’s FTSE closed down 146 points, France’s CAC40 160 points and Germany’s DAX 503 points.
Signal from overseas markets
Once again, the danger of corona has started increasing rapidly in America and Europe. Once again 80 thousand new cases are stirred in America. In Europe, Germany and France have imposed a lockdown with strict restrictions, only essential services are allowed, given Corona’s second. In Germany, the number of patients in the ICU has doubled in the last 10 days.
Meanwhile, the third quarter GDP figures for the US and Europe are also coming today. Also, the results of big companies like Amazon, Apple, Facebook, Alphabet, Twitter will also be watched. Crude oil has broken 5 percent yesterday and it has reached a low level of 3 weeks. Brent crude is currently trading at $ 39.
According to Anil Singhvi, managing editor of our affiliate channel Zee Business, ‘Corona is once again playing havoc all over the world, along with the presidential elections in America, which are making the markets nervous. The sharp fall in the US yesterday and the 20% jump in the volatility index are not good signs. In such a situation, the position should be kept light, in such a time one needs to be careful. If beginning with a low fall or a bounce then keep reducing the position.
According to Anil Singhvi ‘The support range for Nifty today is 11600-11650, while the upper range will be 11825-11875, the support range for Bank Nifty is 23850-23925 while the upper range will be 24475-24650.’