Sensex, Nifty Likely To Have A Weak Opening

The domestic stock markets are likely to open in the red after US markets closed lower following uncertainty in the US fiscal stimulus measures.

Sensex, Nifty Likely To Have A Weak Opening

At 7:30 am, the Nifty futures were lower by 1 per cent on Singapore Stock Exchange.

The domestic stock markets are likely to open in the red after US markets closed lower following uncertainty in the US fiscal stimulus measures. Trends on SGX Nifty indicate a negative opening for the index in India, with a 103 points loss. At 7:30 am, the Nifty futures were trading at 11,237, lower by 103 points or 1 per cent, on the Singapore Stock Exchange.

Asian stocks were set for choppy trade on Wednesday after Wall Street dipped amid growing uncertainty about an additional round of US fiscal stimulus. Australia's S&P/ASX 200 rose 0.2 per cent and Japan's Nikkei 225 was up 0.3 per cent. Hong Kong's Hang Seng index futures lost 0.21 per cent.

US stocks closed lower on Tuesday, with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.

The Dow Jones fell 0.38 per cent, the S&P 500 lost 0.80 per cent and Nasdaq Composite dropped 1.69 per cent.

Meanwhile, oil prices fell about 1 percent on Tuesday after rising earlier in the session as hopes dimmed for a swift stimulus package to relieve the U.S. economy as coronavirus cases increased globally.

Brent crude futures fell 49 cents, or 1.1 per cent, to settle at $44.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.8 per cent, to finish at $41.61 a barrel.

On the corporate front, Aurobindo Pharma, Bharat Forge, Ashok Leyland and Tata Power will announce their first quarter results during the day.

On Tuesday, the Sensex had closed 225 points, or 0.59 per cent, higher at 38,407.01 and the Nifty had ended at 11,322.50, with a gain of 52 points, or 0.46 per cent.