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Indices may extend yesterday's losses

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 62 points at the opening bell.

Overseas, Asian stocks declined on the back of sharp losses in the oil markets overnight.

In US, stocks tumbled for a second straight day on Tuesday as a collapse in US oil prices and glum forecasts by companies worsened fears of a deep economic downturn.

Back home, domestic shares slumped on Tuesday, mirroring weak global shares after the historic overnight plunge in U.S. crude oil to below zero highlighted the economic damage caused by the coronavirus-led lockdowns. The barometer S&P BSE Sensex slumped 1,011.29 points or 3.20% to 30,636.71. The Nifty 50 index lost 280.40 points or 3.03% at 8,981.45.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 2,095.23 crore on 21 April 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 68.46 crore on 21 April 2020, as per provisional data.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, April 22 2020. 07:58 IST