The Indian stock market benchmark indexes, Sensex and Nifty 50, are poised to open sharply lower on Monday, as concerns over a global trade war and growing recession fears in the US triggered a rout in equities around the economies.
Asian markets tanked, while Wall Street crashed last week, with the US stock futures showing extended sell-off, as concerns over a potential recession in the world’s largest economy intensified after harsher-than-expected tariffs by President Donald Trump.
Here’s what Gift Nifty and trends in Asian markets indicate for the Indian stock market today:
The trends on Gift Nifty indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 22,083 level, a discount of nearly 875 points from the Nifty futures’ previous close.
Gift Nifty signals that the benchmark Nifty 50 may open more than 3% lower today, indicating a Black Monday for the equity markets.