Indian equities do well in COVID-19 |
Trends in the Indian equity market indices Nifty suggested a flat opening for national indices as experts believe the markets are likely to be range bound. In the previous trading session, the BSE Sensex ended at 38,040.57, up 15.12 points or 0.04% and the 50-share index Nifty closed at 11,214.05, up 13.90 points or 0.12%. Asian shares started cautiously in the early deals as investors kept one eye on flaring tensions between the United States and China and another eye on US fiscal stimulus after the talks between the White House and the Democrat lawmakers broke down. Trading is expected to be light with Japanese and Singaporean markets closed for public holidays. Global equities have rallied hard since hitting a bottom in March although rising coronavirus cases and deaths in many countries have tempered investor enthusiasm recently. There has been uncertainty over the US fiscal stimulus as President Donald Trump signed a series of executive orders to extend unemployment benefits after the talks with Congress broke down. The orders would provide an extra $400 per week in unemployment payments, less than the $600 per week passed earlier in the crisis. In commodities, gold held on to gains at $2,030 an ounce after hitting an all-time high of $2,072.5 last week. Oil prices were higher with Brent crude rising 36 cents to $44.76 a barrel. U.S. crude added 43 cents to $41.65.
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