Domestic bourses took a breather and consolidated after heavy falls following the impact of corona virus as it hit the India too. Global peers rallied today after Bank of England cut the interest rate by 0.50%.Asian markets ended lower following the impact of epidemic. Nifty fut settled at 10455. Media shares were the major gainers of the day while PSU Banks were the major losers of the day.
Sportswear Company Adidas fell to the bottom of the German DAX on Wednesday after revealing the scale of the impact it’s facing from the corona virus. European shares rose for the first time in five sessions on Wednesday, as Britain became the latest country to cut interest rates in a bid to contain the economic damage from the corona virus epidemic. The benchmark STOXX 600 (STOXX) was up 1.4%.
On 09.03.2020 when nifty was near 11000, We recommended to stay away from the Market, it can break 10000 soon. Today, within two trading session SGX Nifty trading below 10000. We are not suggesting any level today. Just wait and watch if nifty breaks 9930 today then soon we will see nifty below 9600.
