Sensex, Nifty Poised For A Firm Opening

(RTTNews) - Indian shares may open a tad higher on Wednesday even as cautious undertone may prevail on concerns that India's economic growth will be severely hit too due to the coronavirus pandemic and the nation-wide lockdown.

More than 5,200 new virus cases were reported from across the country on Tuesday, marking the biggest single-day jump in infections so far.

As economic conditions worsen, non-banking financial companies (NBFCs) in the country are more vulnerable to the risks brought on by the Covid-19 disruption than banks, rating agency Moody's said on Tuesday.

Meanwhile, foreign brokerage Barclays predicted that India will likely have a
record current account surplus of about $20 billion or 70 bps of the GDP in FY 21.

Benchmark indexes Sensex and the Nifty pared early gains to end up around half a percent on Tuesday, while the rupee appreciated by 25 paise to settle at 75.66 against the U.S. dollar.
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