Nifty closed with minor gains on Friday even as the Reserve Bank of India unleashed a 'bazooka' firing on all cylinders. The sheer size and scope of monetary easing was much better than expected. However, market reaction was muted, giving up all intra day gains to close flat. The Nifty will continue to ape global cues with one eye on local spread of the virus and the expected fiscal package to be announced by the Centre.
US Market: US indices fall after 3 days of huge pullback gains as virus continues to play havoc in US and Europe. Bond yields fall to 0.68% even as oil prices continue to be under pressure with WTI crude trading below US$20 briefly. Gold prices also see profit booking as globally all asset classes are under pressure.
Asian Market: Asian indices opened in the red as markets digested last week's strong pullback rally with the Japanese Nikkei trading lower by 4% after being an outlier last week. The only exception in early trade was the Australian index, which traded higher over 1.5% in expectation of another large stimulus package to be announced by the Central bank later today.