Market LIVE- SGX Nifty in red, Sensex, Nifty stare at gap-up start; outlook for manufacturing in Q2 improves
Share Market News Today | Sensex, Nifty, Share Prices LIVE- Domestic equity market indices BSE Sensex and Nifty 50 were staring at a negative start on the first day of the week, as suggested by the trends on SGX Nifty in early trade. Nifty futures were trading 76.50 points or 0.44 per cent down at 17,364 on Singaporean Exchange. In the previous session, Sensex closed 54.81 points higher at 58,305 while Nifty 50 added 15 points to end at 17,369. Asian stock markets were trading lower in early trade on Monday. Japan’s Nikkei edged 0.25 per cent lower while the Topix index shed 0.16 per cent. South Korea’s Kospi fell 0.22 per cent. In overnight trade on Friday, US stocks indices ended in red. The S&P500 fell 34.70 points to 4,458.58. The Dow Jones Industrial Average lost 271.66 points to 34,607.72. The tech-heavy Nasdaq composite dropped 132.76 points to 15,115.49.
The outlook for increased manufacturing activities in the second quarter of this fiscal has been significantly improved, though the cost of doing business and production is rising, according to a survey by industry chamber FICCI. As per FICCI’s latest quarterly survey (Q2) on manufacturing, industry respondents have attributed the hike in production costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, and a drastic reduction in volumes due to lockdown.
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