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MARKET LIVE: Gap-down start likely for Sensex, Nifty as global markets fall

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MARKET LIVE: Sensex, Nifty, SGX Nifty, oil, inflation, CPI, L&T,Tata Motors

Stock market live updates: The Sensex and Nifty are likely to open gap-down on Thursday amid weak global sentiment due to the US April inflation data that dented investor confidence.

Tracking this, the SGX Nifty futures were quoting at 16,000 level at 8:05 am, hinting at a gap-down start of over 150 points for the Nifty benchmark.

On Wednesday, the US consumer price index rose 8.3 per cent from a year ago, showing a slight ease from March’s peak but still near the highest level in over 40 years.

Back home, investors will closely track the Index of Industrial Production (IIP) data for March and crucial retail inflation (CPI) reading for April, which will be released later today.

In the primary market, logistics services giant Delhivery’s IPO was subscribed 21 per cent on Wednesday, the first day of the issue. The retail and institutional investor portion of the issue were both subscribed 29 per cent each.

Among stocks, L&T, Tata Motors, RBL Bank, Apollo Tyres and Anupam Rasayan will be in focus ahead of their Q4 results today.

Global cues

Following the hot inflation report, US stocks sank overnight as the Dow fell 1.02 per cent, the S&P 500 slipped 1.65 per cent, and the Nasdaq dropped 3.18 per cent.
 

Losses extended to Asian markets as well this morning. Hang Seng and Nikkei fell up to 1.1 per cent. Strait Times and Kospi were down up to 0.5 per cent. Shanghai composite and Shenzhen component shed 0.15 and 0.4 per cent, respectively.

Oil prices too closed higher in the previous session with Brent Crude and WTI rising 5 per cent and 6 per cent to close at $105 and $107 a barrel.

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