The Indian markets are expected open on a flat note but with a downward bias, as global markets present mixed cues. The SGX Nifty futures is currently ruling at 15,022 (8 am) against Nifty May futures close of 15,059.45 on the NSE.

US indices managed to recover from their steeper intraday losses overnight after minutes from an April Federal Reserve meeting revealed that participants agreed the US economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying programme. The Dow closed with a loss of 164 points, after falling as much as 586 points. The S&P 500 and tech-heavy Nasdaq, closed with marginal losses.

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Most Asian markets are down marginally in early deals on Thursday.

However, for global investors, the biggest worry is Bitcoin, which crashed over 30 per cent in a single day. The wild swing in the digital currency makes investors nervous, across the globe, as it causes huge losses within a short span of time.

Following this, domestic investors now lack confidence, and every rise will be used to book profits, analysts said, and added that this will keep the market in a narrow range.

According to analysts, investors are weighing the declining coronavirus infections in the country and the impact of global inflationary pressures. Besides, swings in Bitcoin add to their worries, they added.

Stock-specific action will continue and select mid- and small-caps that declined sharply during the lockdown period can see positive momentum in case of the lockdown being lifted, they further said.

Results Calendar

Acrysil, Amradeep Industries, Balaxi Pharmaceuticals, Bosch, Brookfield India Real Estate Trust REIT, Cosmo Films, Disa India, Electrosteel Castings, Emkay Global Financial Services, EPL, Expleo Solutions, Havells India, HPCL, IndInfravit Trust, JK Lakshmi Cement, KNR Constructions, Libord Securities, Libord Finance, Mangalam Drugs & Organics, Meghmani Organics, Music Broadcast, New Delhi Television, Plastiblends India, Presha Metallurgical, Relaxo Footwears, Response Informatics, Sterling Webnet, The Investment Trust Of India, Torrent Power, Ultramarine & Pigments, Usha Martin, Virat Industries and Zee Entertainment Enterprises, will announce their quarterly results on May 20 (Thursday).

Published on May 20, 2021