Business

Sensex, Nifty Likely To Open Sharply Lower Today

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The markets have been volatile in the past few sessions in the run up to Union Budget 2020-21Domestic stock markets are likely to open sharply lower on Monday, February 3, extending losses for a second straight session after the Union Budget focused primarily on farming and infrastructure.

The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty benchmark index - dived as much as 388 points to hit 11,599.00 ahead of the opening of Indian markets.

At 8:36 am, the SGX Nifty futures traded 305.00 points - or 2.54 per cent - lower at 11,682.00.Economists and industry leaders say the budget proposals would provide some support to growth over the longer term but were insufficient to give it an immediate boost.The domestic stock markets have been volatile in the past few sessions in the run up to Union Budget 2020-21. On Saturday, the S-P BSE Sensex and NSE Nifty benchmark indices slumped to close at their lowest levels recorded since October 27.




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