Technology

Indian markets are likely to open negative tracking global indices and SGX Nifty.

The US stocks staged a recovery attempt in afternoon trading on Friday after coming under pressure early in the session but pulled back sharply going into the close. The Dow posted a steep loss after recording its biggest threeday spike since 1931. The Dow plunged 4.1 percent to 21636 and the Nasdaq tumbled 3.8 percent to 7502.

UK stocks fell on Friday as investors booked some profits after a threeday rally on stimulus expectations. The FTSE 100 was down by 3.9 percent to 5585.

On domestic front Indian shares gave up early gains to end mixed on Friday as coronavirus worries persisted and Moodys Investors Service slashed Indias economic growth projection for 2020 to 2.5 percent from 5.3 percent earlier saying the 21day lockdown would result in a sharp loss in incomes and further weigh on domestic demand and the pace of recovery. The benchmark BSE Sensex was down by 0.4 percent to 29815.

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