Good Morning All,
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index with a 35 points gain.
The market witnessed sharp selling pressure in the afternoon and closed with more than 2 percent loss on September 21 as traders worried about rising coronavirus cases again and likely fresh lockdowns in many countries, including Europe.
Sensex fell 811.68 points, or 2.09 percent, to 38,034.14, while Nifty plunged 254.50 points, or 2.21 percent, to 11,250.50 on September 21, and formed a large bearish candle which resembles a Long Black Day kind of pattern on the daily charts, after consolidation in previous 5-6 sessions.
US Markets
Wall Street's main indexes tumbled on Monday as concerns about new lockdowns in Europe and possible delays in fresh stimulus from Congress raised fears the U.S. economy faces a longer road to recovery than previously hoped for.
The Dow Jones Industrial Average fell 2% to end at 27,102.99 points, while the S&P 500 lost 1.28% to 3,276.87. The Nasdaq Composite dropped 0.22%, to 10,769.20.
Asian Markets
Asian shares opened weaker on Tuesday on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks.
In Asia, Australia's S&P/ASX 200 declined 0.5% while South Korea's Kospi fell 0.9%. Japan is closed for a public holiday. Hong Kong's Hang Seng index futures were down 0.36%.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the index in India with a 35 points gain. The Nifty futures were trading at 11,279 on the Singaporean Exchange around 07:30 hours IST.