Stock Market

Market stares at another negative open amid global weakness

Market stares at another negative open amid global weakness



Chillicious Bureau

Indian equity markets are expected to open in the red tracking weakness in global markets as investors worried over the fate of struggling German lender Deutsche Bank.

Today’s soft start would come on the back of a sell-off in Indian stocks Thursday, which fell after geopolitical concerns in the subcontinent engulfed equities.

At the time of writing, Singapore’s SGX Nifty, which tracks futures on the NSE Nifty, was down about 0.5 percent, or 46 points, to 8,598, indicating a similar open for India.

Overnight, the Dow Jones fell in triple digits, gold traded flat while oil consolidated after a bounceback Thursday. In Germany, Deutsche Bank fell to an all-time low, having lost 65 percent, or USD 50 billion, of its value since last year. Reports said investors have been worried about the bank’s survival and its intertwined connections with global financial institutions and markets.

To be updated.