Updated : 2020-03-25 07:58:19
The Indian market is likely to open lower as the government has announced a complete lockdown across the country for 21 days. However, Asian shares surging on Wall Street’s big gains could provide some support to the domestic market. At 7:15 am, the SGX Nifty was trading 126.50 points or 1.65 percent higher at 7,775.25.
1. Asia: Stocks in Asia Pacific soared in morning trade on Wednesday following dramatic gains overnight on Wall Street as investors await the announcement of an enormous stimulus deal by U.S. lawmakers. The Nikkei 225 in Japan led gains among major markets in the region while the Topix index rose 4.45 percent. South Korea’s Kospi also saw robust gains as it jumped 3.87 percent while the S&P/ASX 200 soared 4.08 percent as the sectors mostly traded higher. Overall, the MSCI Asia ex-Japan index traded 1.21 percent higher. (Image Source: Reuters)
2. US: Stock futures were lower in overnight trading, following Tuesday’s historic rally, as investors awaited an unprecedented stimulus package to combat the economic impact of the coronavirus. The Dow Jones Industrial Average fell 117 points, pointing to a decline of around 94 points at the Wednesday open. S&P 500 futures and Nasdaq-100 futures also pointed to declines for the two indexes at the open on Wednesday. (Image Source: Reuters)