The Sensex and the Nifty also started weak today amid weak global cues. The Sensex is seeing a decline of around 200 points. Along with the big stocks, midcap stocks are also seeing weakness. The midcap index of the BSE is trading at a weakness of 0.5 percent. Small-cap shares were also seen selling. The BSE Smallcap index was trading down 0.52 percent. However, there is some buying in oil-gas stocks today. The BSE oil and gas index was trading up 0.16 percent. The Sensex 30-share BSE major index is currently trading around 39,105 with a loss of around 200 points to 0.50 percent. The NSE Nifty, the NSE’s 50-share major index, is trading around 11555 with a weakness of about 50 points i.e. 0.44 percent.
Weak Signals from Global Markets
There are weak signals from global markets. Asian markets are sluggish. SGX Nifty is trading below. In the US, the FED has announced it will not change interest rates until 2023. The Nasdaq closed down 1.25 percent in yesterday’s trade. The Dow had gained 37 points to close at 28032 in yesterday’s trade. At the same time, S&P fell 16 points to close at 3385. Nasdaq had fallen 140 points to close at 11050. Snowflake has been listed at twice the issue price. At the same time, Berkshire Hathaway has gained $ 800 million. Meanwhile, President Trump has said that the Corona vaccine will be available in the US from October.
U.S. FED Interest Rates have not Changed
The US FED has not made any changes to interest rates. The FED has maintained interest rates at 0–0.25 percent. The FED has also stated that interest rates will not change until 2023. By 2023, inflation will be difficult to rise above 2 percent. On the other hand, Brent crude is seeing a jump of 5 percent. Its price has gone beyond $ 42. Prices have increased due to decreasing inventories and Hurricane Sally. Today, action can be seen in OMCs and paint stocks.
Asian Markets are seeing Weakness
Today Asian markets are seeing weakness. The SGX NIFTY is shown below 75 points. At the same time, the Nikkei is seen around 23,312 with a weakness of about 0.70 percent. However, there has been a slight increase of 0.12 percent in straight times. At the same time, the Taiwan market is trading at a level of 12,906.41 with a weakness of 0.54 percent. Meanwhile, Hangseng was seen at 24,436.88 with a weakness of 1.17 percent. At the same time, Kospi is seeing a weakness of 0.73 percent. The Shanghai Composite also showed a decline of 0.65 percent at 3,262.42.