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Share Market LIVE: Sensex, Nifty may open in green; covid-19 hits growth as Care Ratings trims GDP forecast

S&P BSE Sensex currently sits at 47,705 while the 50-stock NSE Nifty is at 14,296.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets return for trade today after a brief halt. S&P BSE Sensex currently sits at 47,705 while the 50-stock NSE Nifty is at 14,296. During the early hours of trade on Thursday, SGX Nifty was up more than 100 points, hinting at a positive start for stock markets. Yesterday, equity indices on Wall Street leapt to close with gains as NASDAQ surged over 1%. Asian peers were mostly trading in green. Hang Seng, Topix, Nikkei 225, KOSPI, and the KOSDAQ were all up with gains while Shanghai Composite was trading flat.

As the second wave of the coronavirus pandemic wreaks havoc across the country and disrupts businesses, Care Ratings has revised down its forecast for GDP growth to 10.2 per cent in 2021-22 from an earlier projection of 10.7-10.9 per cent. “We have revised our forecast for GDP growth for FY22 as the underlying conditions have changed rapidly in the last 30 days or so. It stands now at 10.2 per cent,” they said. Earlier, on March 24, 2021, the agency had projected GDP growth between 11-11.2 per cent based on GVA (gross value added) growth of 10.2 per cent. This is the third revision to India’s growth made by Care Ratings in one month. As the virus spreads various states have announced lockdown measures in cities or districts, disrupting economic activity. 

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