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Nifty-Sensex View - 22.04.2020: 09.00 Am

Nifty-Sensex View - 22.04.2020: 09.00 Am

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Pre-Session: Markets likely to open in red; RIL in focus

22/04/2020 08:37

Domestic bourses are expected to start the day in red on Wednesday. Investors will today react to the oil meltdown, Covid-19 newsflow, global cues, and Reliance Jio-Facebook deal.

WTI crude's June contract plummeted 43 per cent overnight to below $12 a barrel. Brent futures also slumped 24 per cent to close at $19.33 a barrel, their lowest level since February 2002.

Meanwhile, India's coronavirus cases have risen to over 20,000 now with 645 deaths, according to Worldometer.

In today's session, Reliance Industries will be a major focus. The Mukesh Ambani-led conglomerate today announced that it has signed binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. This will make Facebook the largest minority shareholder in the Indian company with 9.99 per cent equity stake.

On Tuesday, the 30-share benchmark index ended at 30636.71 down by -1011.29 points or by -3.2 % and then NSE Nifty was at 8981.45 down by -280.4 points.