For Indian markets, the signs of global markets are sluggish today. SGX Nifty has gone flat. US futures markets are open with heavy downside. Dow Futures is down by more than 180 points, Nasdaq Futures is also broken by more than 75 points.
Talking about other Asian markets, here too, there is a fall of quarter to half percent. Japan’s Nikkei is trading down by about 150 points. The Chinese market is only in Shanghai Comp Red Zone, but is showing flat business. Hong Kong’s market Hang Seng is also showing weakness of about 60 points.
How are foreign markets tomorrow
Yesterday traded in US markets with tremendous ups and downs. Although the US markets started with an increase, all these gains disappeared when the markets closed, eventually the markets closed at the lower levels of the day. Dow Jones closed down 98 points, the S & P500 fell a fourth percent and Nasdaq fell 32 points.
European markets fell heavily yesterday. The market mood deteriorated due to Corona’s growth crisis. European markets closed down from 1.5% to 2% on Wednesday. London’s FTSE closed down by about 2%. France’s CAC40 closed at 1.53 percent and Germany’s DAX also fell 1.4 percent.
Signal from overseas market
At present, only two reports are discussed in the US, the Stimulus package and the presidential election. Talks about the Stimulus package were held yesterday and will take place today, but till when any consensus will be reached on this, it has not been clear yet. However, now it has been assumed that there will not be much on the Stimulus package before the election.
On the other hand, Thursday will be the last presidential debate between President Trump and his rival Joe Biden, although according to Indian time it will start tomorrow at half past six in the morning. The market will keep an eye on this. An American intelligence official has said that Iran and Russia have tried to interfere in the US Presidential Election next month, showing its effect on the markets.
The International Monetary Fund (IMF) has released GDP growth estimates for Asia Pacific for 2020. According to the IMF, the growth of Asia Pacific could be -2.2%, which is a very bad figure.
According to IMF, India, Philippines and Malaysia will see the biggest decline in growth. However, Asia’s growth in 2021 is also expected to achieve 6.9%.
Tomorrow the weekly unemployment figures will come in America, this time it is estimated that it can be 8.75 lakh. Here, pressure is visible in crude oil due to demand concerns. Brent crude has fallen 3.5 percent to below $ 42.
What will be the strategy today
According to Anil Singhvi, managing editor of our associate channel Zee Business, “The signs of global market are very bad. Today some care has to be taken. The Indian market is touching 12,000 but is not able to cross it. Today, seeing the chance of fall, one should shop. 12025 level is very important, if you cross it then shop. If it is the day of expiry, there will definitely be ups and downs. There will also be a chance to trade on both sides. In this sense, you have to make your strategy.