The National Stock Exchange (NSE) Nifty Index opened sharply lower in its previous trading session on Thursday at 10,754.70 from its previous closing level of 10,858.25. The level it opened was also the highest point of the day and fell further as the session continued to hit an intraday low of 10,547.25. After continuous fall, it closed near the level of 10,600. The index formed a bearish candle on daily candlestick charts.
All constituents of financial markets are looking at direction and guidance from the central bank. Eyes are set on the outlook on inflation and interest rates.
Taking cues from the global sentiment and domestic trade, it is expected to see a negative opening in today’s session as well.
Update: A two-day meeting will be held from today, with heads of public sector insurance companies to find out the ways to strengthen their financial health and improve insurance penetration in the country.