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Shanghai Composite, Hang Seng, Nikkei 225, and KOSDAQ were all trading with losses. SGX Nifty too was trading over 55 points lower during the early hours of trade on Wednesday.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty slipped on Wednesday’s opening bell. S&P BSE Sensex opened over 50 points lower while Nifty 50 was still below the 11,950 mark. Tata Steel and Reliance Industries were the top index gainers, followed by Bharti Airtel and Titan. On the other hand, NTPC, ONGC, and Power Grid were the top drags. All financials were trading with losses. India VIX was marginally up but still below the 21 levels. Global cues on Wednesday were negative with US stock markets having slipped into the red during yesterday’s session. Shanghai Composite, Hang Seng, Nikkei 225, and KOSDAQ were all down in the red.
The International Monetary Fund (IMF) has projected the Indian economy to contract by 10.3% this year, owing to the coronavirus pandemic. However, the IMF also said that India is likely to bounce back with an impressive 8.8% growth in 2021. The 8.8% growth rate would make India as the fastest growing emerging economy in the world. IMF’s prediction comes after the World Bank said India’s GDP is expected to contract 9.6%. The Reserve Bank of India has forecasted the GDP to shrink 9.5% this fiscal year.
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