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Market LIVE: Sensex holds 49,000, Nifty falls below 14,800 on negative global cues; RIL, ONGC shares fall

Nifty futures were trading 216 points or 1.42 per cent lower at around 14,775 levels on Singaporean Exchange.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a heavy sell-off in the opening on Tuesday, as suggested by trends on SGX Nifty. Nifty futures were trading 216 points or 1.42 per cent lower at around 14,775 levels on Singaporean Exchange. In the previous session, BSE Sensex ended 0.60 per cent higher at 49,502, while the Nifty 50 index surged 0.8 per cent to 14,942, taking the rally to the fourth straight session. Meanwhile, COVID-19 infections and deaths in India held close to record dialy highs on Monday with 3.66 lakh new infections and 3,754 deaths, as reported by the health ministry. Asian stock markets were trading lower in early trade on Tuesday, following an overnight plunge in US stock markets. Japan’s Nikkei 225 fell 2.2 per cent while the Topix slipped 1.7 per cent. South Korea’s Kospi fell was down 1.4 per cent. In overnight trade on Wall Street, the Dow Jones Industrial Average was up 0.86 per cent, while the S&P 500 was down 0.01 per cent. The Nasdaq Composite fell 205.65 points, or 1.50 per cent, at 13,546.59.

Rating agency Crisil on Monday said that India’s GDP growth rate could fall to 8.2 per cent in the financial year 2021-22, assuming that the second COVID-19 wave will reach a peak number of cases by June-end. Earlier in April, the rating agency had projected India’s GDP to grow 11 per cent in FY22. The report added that in case the COVID-19 pandemic infections reach a peak number of cases by May-end, the GDP growth will drop to around 9.8 per cent. The report added that the intensity of the second wave of COVID-19 infections in India has come as a surprise, and is haemorrhaging the country’s healthcare infrastructure. That has made lockdowns and restrictions inevitable.

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