Market LIVE: SGX Nifty signals muted opening for indices; SBI says India’s GDP may shrink by 16.5% in Apr-June

Shanghai Composite gained while Nikkei 225 and Topix traded with losses along with share markets in South Korea, Taiwan and Singapore.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: SGX Nifty was trading flat on Tuesday morning, hinting a weak start to domestic indices. Sensex and Nifty enter Tuesday’s trading session on the back of a strong trading session on Monday that saw the indices jump close to 0.50% each. Market analysts believe that eyes will be glued on how global stock markets perform and that will chart the trajectory taken by domestic indices as well. Stock markets in the United States ended in the green, except Dow Jones that was down in the red. Major European indices were also showing positive signs. However, trade was mixed on Tuesday morning among Asian peers. Shanghai Composite gained while Nikkei 225 and Topix traded with losses along with share markets in South Korea, Taiwan and Singapore.

India’s largest public sector lender in its economic research report, Ecowrap, said that it expects the Gross Domestic Product (GDP) to slip by 16.5% during the first quarter of this fiscal year. Earlier this year, SBI’s Ecowrap had projected a GDP contraction of 20%. The report adds that corporate Gross Value Added (GVA) de-growth is better than expected. However, the report does flag concerns about the coronavirus pandemic entering rural areas. The percentage of cases in rural districts to total new cases has risen to 54% in August.