MARKET LIVE: Gap-down open likely for Sensex, Nifty as global indices tank


We are looking to start Friday trading in the red as global cues mount on fears of bigger rate hikes and higher inflation.

Markets in the US fell up to 5 per cent overnight amid weak earnings and fears of a Fed rate hike. The Dow Jones fell more than 3 per cent since November 2020, the S&P 500 fell 3.5 per cent and the Nasdaq fell 5 per cent to its lowest level.

Tracking this, Asian markets too fell 3 per cent this morning led by Hong Kong’s Hang Seng.

Global sentiment was also affected as the Bank of England raised interest rates by 25 bps to 1 per cent and raised inflation forecast to 10 per cent.


Today, the market will keep an eye on the global developments surrounding the Russia-Ukraine conflict and possible new sanctions on Russia by the European Union. The weekend factor can have an impact on stocks as well.

Among stocks, Canara Bank, Federal Bank, GE Shipping, Reliance Industries, Shipping Corporation of India and Tata Power will be the focus ahead of their Q4 results.


in main market, The IPO of Life Insurance Sahyog (LIC) was fully subscribed on the second day of the offer period. The issue has so far raised bids worth Rs 20,744 crore, which includes Rs 5,628 crore raised from anchor investors. Small investors have invested over Rs 12,000 crore in the IPO.


Meanwhile, this year’s second biggest IPO – Delhi’s Rs 5,235-crore issue opened for subscription on May 11 in the price band of Rs 462-487 per share.

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