Sensex, Nifty Likely To Have A Negative Start

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Sensex, Nifty Likely To Have A Negative Start

At 07:30 am, the Nifty futures were trading lower by 0.4 per cent on Singapore Stock Exchange.

The domestic stock markets are likely to open mildly in the red, following weak global cues as coronavirus cases continue to surge across the world. Trends on SGX Nifty indicate a negative opening for the index in India with a 46-point loss. At 07:30 am, the Nifty futures were trading at 10,765, lower by 46 points or 0.4 per cent, on the Singapore Stock Exchange.

Asian shares were showing a mixed picture on July 14 after a volatile day in US equity markets amid persistent concerns over the record number of new coronavirus cases worldwide and signs of an economic rebound.

Australian S&P/ASX 200 futures lost 0.76 per cent in early trading, Japan’s Nikkei 225 futures added 0.22 per cent and Hong Kong’s Hang Seng index futures rose 0.39 per cent. E-mini futures for the S&P 500 rose 0.21 per cent.

The S&P 500 and Nasdaq ended lower on July 13, pulled down by Amazon, Microsoft and other big-name leaders of Wall Street’s recent rally.

The Dow Jones rose 0.04 per cent, while the S&P 500 SPX lost 0.94 per cent and Nasdaq Composite dropped 2.13 per cent.

Meanwhile, oil prices slipped about 1 per cent on July 13 after global coronavirus cases rose by a record daily amount, fanning fears of renewed government lockdown and on growing US and European tension with China.

Brent futures fell 52 cents, or 1.2 per cent, to settle at $42.72 a barrel, while US West Texas Intermediate (WTI) crude lost 45 cents, or 1.1 per cent, to settle at $40.10.

Retail inflation for June worsened to 6.09 per cent due to a spike in the prices of certain food items, government data on July 13 showed. The Consumer Price Index (CPI) data was last released in March when it was at 5.84 per cent. The government had not released the CPI data for April and May, citing insufficient data collection following the outbreak of coronavirus.

Food retail inflation for the month increased by 7.87 per cent, according to the data released by the Ministry of Statistics Programme Implementation on Monday evening.

The S&P BSE Sensex and NSE Nifty 50 indexes had ended on a positive note on Monday, led by gains in Reliance Industries, Infosys, Hindustan Unilever, Bharti Airtel, ITC and HCL Technologies. The Sensex rose 99 points to close at 36,694 and Nifty reclaimed 10,800 levels to close at 10,815, up 47 points.

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