Markets may see a dull start today!

Welcome to Dalal Street after a long weekend. Today, Indian markets will be back to work.  The beginning of the week seems to be a tepid one as the early indications by SGX Nifty show that markets are set for an insipid start. SGX Nifty trades down by 50 points at 9,056 levels. In the last week, Nifty had gained more than 12 per cent and the tone was set, right at the beginning, as the week started with a strong gain of 708 points. Moreover, FPIs were back in the buying mode as the record hat-trick of buying last week may or may not continue this buying streak. To know that, we have to wait till the end of the day. Today, in terms of macro data, the market participants will look forward for CPI inflation of March, which will be released in the later part of the day.

Asian markets trades on a weak note on Monday as US Future market were seen trading in red. Japan’s Nikkei 225 was down by 0.77 per cent and China’s Shanghai Composite dropped 0.45 per cent, respectively.

Back home, Thursday turned out to be a terrific day for the bulls as the key benchmark indices logged gains of over four per cent for the day on the back of further fiscal stimulus by the government to combat impact of Coronavirus on the economy. The broader market indices moved in tandem with the frontline gauges with Nifty Mid-cap and Small-cap gaining 3.32 and 3.83 per cent, respectively. The fear gauge of Indian stock market, India VIX shed five per cent to close below 50-mark. On the sectoral front, all the indices ended in green with Nifty Auto leading the way as it sky-rocketed more than 10 per cent, followed by Nifty Financial Services.

US markets were closed on Friday in observance of Good Friday as well as the markets in European region.