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Share Market LIVE: SGX Nifty suggests negative start for indices; ICRA says India's GDP to see 5% contraction

MSN 2020-05-21 08:08:00

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 settled with two per cent gains on Wednesday. The 30-share Sensex jumped 622 points or 2.06 per cent to 30,818.61, while the broader Nifty 50 index surged 187 points or 2.11 per cent to close the session at 9,066. Asian stock market inched higher on Thursday as investors monitored the reopening of economies amid novel coronavirus. In Japan, the Nikkei gained 0.29%, the Topix index also added 0.18%. South Korea?s Kospi also advanced 0.42%. Overall, the MSCI Asia ex-Japan index traded 0.09% higher. In overnight trade on Wednesday, US stocks edged higher. The Dow Jones Industrial Average rose 1.52% to end at 24,575.9 points, while the S&P 500 gained 1.67%, to 2,971.61. The Nasdaq Composite climbed 2.08% to 9,375.78.

Trends on SGX Nifty suggest a gap-down start for the Sensex and Nifty with drop of 70 points or 0.77 per cent. The Nifty futures were trading at 9,016 on the Singaporean Exchange.

Domestic rating agency Icra on Wednesday warned of a deep recession as it drastically lowered the FY21 growth forecast for India to minus 5 per cent, citing the very modest fiscal support, an extension of the nationwide lockdown and looming labour shortage, according to PTI.