ECONOMY

Stock Market Live: Sensex, Nifty Open Lower Amid Weak Global Cues

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India’s SGX Nifty 50 Index futures for April delivery fell 0.5% to 14,336.50, while MSCI Asia Pacific Index little changed. The NSE Nifty 50 Index added 0.8% Thursday to 14,406.15.

Indus Towers, Cyient, Rallis India, Tata Elxsi may react as the companies reported quarterly results after the market closed Thursday. HCL Technologies, M&M Financial and Indiabulls Real are the companies scheduled to report earnings Friday. Foreign investors sold net of Rs 728 crore of stocks on April 20, according to the NSDL website.

Asian stocks weakened in early Friday trade following broad-based declines in U.S. benchmarks as investors mulled a proposal for higher taxes on the wealthy to help pay for U.S. President Joe Biden’s social plan.

Markets were little moved overnight by a further assurance from European Central Bank President Christine Lagarde that the institution isn’t discussing any pullback in its emergency bond-buying program even as economic data improve.

Oil pared a weekly loss as traders considered signs of recovering demand in the U.S. and setbacks in key markets where spikes in virus cases are further constraining activity.

Treasury yields and the dollar were little changed.

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