Sensex, Nifty Seen Opening Higher

(RTTNews) - Indian shares may open higher on Thursday amid optimism that some of the countries hit hardest by the coronavirus pandemic are flattening the infection curve.

The government is considering extending the ongoing national lockdown by 15 days, Prime Minister Narendra Modi told lawmakers on Wednesday, though a final decision is expected only after a meeting with all chief ministers on 11 April.

Goldman Sachs cut India's GDP estimate for financial year 2021 to 1.6 percent from 3.3 percent previously, and warned that a nationwide shutdown, social distancing measures and fears among consumers and businesses may lead to a significant contraction in economic activity.

Industry bodies CII and Assocham have called for a bailout package of $200-300 billion along with a host of other incentives for small and medium enterprises to put the Indian economy back on track.

Benchmark indexes Sensex and the Nifty gave up early gains to end modestly lower on Wednesday while the rupee plunged by 70 paise to a record low of 76.34 against the dollar.
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