Sensex Trades Flat, Nifty at 11,311 Amid Subdued Cues From Global Stock Market
The Asian stocks were subdued on Wednesday as an impasse in U.S. economic stimulus negotiations pushed global stocks lower and sent investors into safe-haven assets like gold
Mumbai, July 29: The Indian markets opened flat tracking weak sentiments from the global stock market. The Sensex was trading at 38,529, up 36 points. NSE Nifty, on the other hand, was at 11,311 at 9: 20 am on Wednesday. The markets are expected to track Prime Minister Narendra Modi's virtual meeting with the chief executives of state-owned and private banks today.
The total coronavirus cases in India crossed the 1.5 million mark today. Maharashtra continued to the worst affected and reported the maximum cases. However, Mumbai reported a fall in new coronavirus cases.
The Asian stocks were subdued on Wednesday as an impasse in U.S. economic stimulus negotiations pushed global stocks lower and sent investors into safe-haven assets like gold, according to a Reuters report.
On the other hand, US President Donald Trump on Tuesday said he did not support everything in a $1 trillion Senate Republican coronavirus relief proposal, a day after it was unveiled by Majority Leader Mitch McConnell, although he indicated talks were continuing.
US markets closed lower on Tuesday as investors were worried about weakening consumer confidence, lower earnings, and a smaller-than-expected COVID-19 aid plan from U.S. Senate Republicans, Reuters reported.
(The above story first appeared on LatestLY on Jul 29, 2020 09:20 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).