A trader monitors BSE index at a brokerage firm in Mumbai | PTI
Investors will today react to the government’s decision to extend the nation-wide lockdown till May 3 as well as other Covid-19 related newsflow and March quarter results. Meanwhile, the International Monetary Fund, Barclays, and Nomura have revised downwards India’s growth projections, which will also impact sentiment.
US stocks jumped on Tuesday on optimism that the Trump administration could move to ease lockdowns. The Dow Jones rose 2.4 per cent, the S&P 500 gained 3 per cent and the Nasdaq Composite added 3.95 per cent.. Asian indices were mixed in trade. Japan’s Nikkei and Australia’s ASX were both down over half a per cent in early deals while Hong Kong was up 0.5 per cent.
In energy markets, concerns about a global recession led crude oil prices to plunge by over 10 per cent overnight although they rebound a smudge early Wednesday. Brent crude was up half a per cent to $29.80 a barrel.