Indian Stock Market Updates: Sensex, Nifty may open sharply lower after Urjit Patel’s exit; state poll outcome eyed
Share market LIVE updates: The domestic stock markets are likely to open sharply lower after RBI governor Urjit Patel’s resignation and ahead of the crucial state elections outcome. Earlier, SGX Nifty was trading sharply lower at levels around 10,340 versus Nifty December Future’s Monday close of 10,515, indicating an extremely weak opening for the Indian stock markets today. Asian markets failed to hold gains from Wall Street as both Japanese & South Korean equities were trading near the low point of the day. Major US indices ended positive on Monday as Dow Jones staged a smart recovery by erasing a 500-point drop in another whipsawing session on Wall Street.
“Mr. Urjit Patel’s resignation as RBI’s Governor may create a temporary flutter in the markets that are waiting expectantly to know which way the citizens of 3 crucial Hindi Heartland States have voted. Global headwinds like escalating trade war between US & China, Britain’s Parliamentary vote on Brexit and fears of slowdown in global economic growth in 2019 has already led to a sharp spike in risk aversion for risk assets like equities,” Ajay Bodke,CEO & Chief Portfolio Manager – PMS, Prabhudas Lilladher Pvt Ltd said. We bring to you live updates.
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