Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets closed in the red for the second day straight on Thursday. On yesterday’s closing bell, S&P BSE Sensex was at 49,564 although the Nifty 50 ended at 14,906. Entering the last trading session of the week, SGX Nifty was trading with gains, sitting more than one hundred points larger. Global cues had been positive just after Wall Street equity indices closed with gains. NASDAQ was up 1.77%, followed by S&P 500’s 1.06% jump, although Dow Jones gained .56%. Asian peers had been mirroring the up-move, with Hang Seng, TOPIX, Nikkei 225, KOSPI, and KOSDAQ surging larger.
In the aftermath of the second wave of the covid-19 pandemic, gauging its effect on the economy and customer sentiment, Swiss brokerage Credit Suisse has lowered its nominal GDP development forecast by 150-300 bps to 13-14% but expects a stronger recovery in the second half as it sees the lockdowns obtaining restricted effect on tax collections. “Our macro strategy team expects the overall impact on the pandemic restrictions on GDP to be about 150 bps in base case scenario. Even if we assume a 300 bps impact if statewide restrictions prolonged, nominal GDP growth in FY22 can still be around 13-14 per cent,” Jitendra Gohil and Premal Kamdar, equity analysts at Credit Suisse Wealth Management India mentioned in a note on Thursday.