Share Market LIVE: Sensex, Nifty to open lower; World Bank estimates major global recession due to coronavirus

 

Share Market News Today | Sensex, Nifty, Share Prices LIVE: US stocks surged on Friday as President Donald Trump planned to reopen the coronavirus-battered economy.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty settled higher for the second consecutive week on Friday on the hope that the infections are peaking out in Europe and US may ease lockdown. Apart from that RBI measures to boost liquidity and reclassify NPA norms for commercial banks supported the gains on Dalal Street. S&P BSE Sensex jumped 986 points or 3.22 per cent to close the session at 31,589. While the broader Nifty 50 index settled at 9,266, up 275 points or 3.05 per cent. Asian shares on Monday started on a cautious note on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2% in slow early trade. Japan’s Nikkei fell 1.3% and South Korea 0.1%. US stocks surged on Friday as President Donald Trump planned to reopen the coronavirus-battered economy. The Dow Jones Industrial Average rose 704.81 points, or 2.99%, to 24,242.49, the S&P 500 gained 75.01 points, or 2.68%, to 2,874.56 and the Nasdaq Composite added 117.78 points, or 1.38%, to 8,650.14.

Trends on SGX Nifty suggests a gap-down start for Sensex and Nifty. The Nifty futures were trading lower on the Singaporean Exchange.

Expecting a major global recession due to the coronavirus pandemic, the World Bank on Friday said that its estimates suggest a much deeper economic downturn than the 2007-09 Great Recession. World Bank President David Malpass said while the tragic impacts of the COVID-19 pandemic are being felt globally, this crisis will likely hit the poorest and most vulnerable countries and people the hardest.

Courtsey : FInancial Express