Indian markets are likely to open in the green following SGX Nifty which is up 70 points at 8894 levels. Global markets including that of Asia are trading mixed after US Markets ended in the red as economic indicators pointed to more signs of recession.
The Indian stock market started on a positive note on May 19 but witnessed profit booking at higher levels, as the S&P BSE Sensex slipped more than 500 points from its intraday high and the Nifty50 closed below 8,900.
Sensex was up 167 points at 30,196 while the Nifty rose 55 points to 8,879. Sentiment was also hit by India’s coronavirus infections going past the 1,00,000-mark.
Market participants are also disappointed with the stimulus package ,which weighed on financials for the second day in a row. The NiftyBank closed 0.5 percent lower.