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Part Market LIVE: Sensex, Nifty can open in red; Second wave of covid-19 is unlikely to affect economic recovery

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SGX Nifty lost 80 points, suggesting a muted start to the trade. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, LIVE share price: National benchmarks could start the first trading session of the week in negative territory. SGX Nifty lost 80 points, suggesting a muted start to the trade. The S&P BSE Sensex currently sits at 50,029 points while the wider Nifty 50 is at 14,867 after surging over the previous shortened week. Asian peers moved ahead in the green with TOPIX and KOSPI both gaining in the first few hours of trading. The Chinese and Hong Kong stock markets remained closed for trading.

With India witnessing the second wave of the coronavirus pandemic, the outlook for economic growth remains intact. Nomura said its baseline projection for FY22 GDP growth is 13.5 percent year-on-year, compared with an estimate of -7.4 percent in FY21. Nomura said the second wave reaches high frequency data such as mobility and traffic, especially in the worst affected state of Maharashtra. “In our opinion, given that the second wave only started towards the end of March and the economy normalized quickly in January and February, the second wave is unlikely to have a major impact. on GDP growth in the first quarter, and our estimate of 1.0% over-year seems reasonable, ”the report says. However, an extended second wave with increased restrictions, according to Nomura, could impact the Q2 numbers.

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