Plus   Neg

Sensex, Nifty Seen Lower As Govt Extends Nationwide Lockdown

Indian shares are likely to open lower on Monday as the country enters its fourth phase of lockdown today with "totally different" rules, which will remain in force till May 31.

Investors will also react to the latest policy measures announced by Finance Minister Nirmala Sitharaman to support the economy.

The total number of confirmed coronavirus cases in India stood at 95,698, while the death toll topped the 3,000-mark.

Globally, 4,801,510 people have been infected by Covid-19 so far, and the death toll from the disease stands at 316,658, according to Worldometer.

Meanwhile, India is among 58 nations, including 27 European Union members, who have moved a draft resolution demanding an 'impartial' evaluation of the World Health Organization's (WHO's) response to the pandemic, according to a draft resolution proposed for the WHO's annual meet beginning today.

Asian markets are moving higher this morning and oil prices hit a five-week high as more countries eased lockdown restrictions.

Fed Chair Jerome Powell said in a CBS interview that the economic downturn might last until late 2021 and the U.S. economy could "easily" contract by 20-30 percent amid the pandemic.

Japan fell into a recession for the first time since 2015 as the coronavirus crisis took a heavy toll on businesses and consumers, data showed today.

The dollar held its ground and gold jumped to the highest level since November 2012, while U.S. crude futures climbed toward a two-month high.

The British pound hit a seven-week low after the chief economist of the Bank of England said the bank is considering negative interest rates among other options to prop up the economy.

U.S. stocks edged higher on Friday as a continued rise in oil prices helped offset dismal retail sales and industrial production data for April as well as intensifying U.S.-China trade tensions.

After the White House moved to block shipments of semiconductors to Huawei Technologies, Chinese state media Global Times tweeted that Beijing was working out a move to put a swathe of U.S companies such as Qualcomm, Cisco and Apple in an "unreliable entity list".

The Dow Jones Industrial Average inched up 0.3 percent, the tech-heavy Nasdaq Composite climbed 0.8 percent and the S&P 500 added 0.4 percent.

European markets posted strong gains on Friday following encouraging factory data from China and on expectations of additional stimulus from U.S. and Chinese governments.

The pan European Stoxx 600 gained half a percent. The German DAX allied 1.2 percent, France's CAC 40 index edged up 0.1 percent and the U.K.'s FTSE 100 rose about 1 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT