New Delhi, June 15, 2020.

Domestic stock markets are likely to start the week on a negative note tracking weakness in global equities amid fears about a second wave of COVID-19 infections. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange (NSE) Nifty index – declined as much as 1.83 per cent – or 182 points – to hit 9,760.00 on the downside ahead of the opening of Indian markets. At 8:04 am, the SGX Nifty futures traded 79.50 points – or 0.80 per cent – lower at 9,862.50.

Equities in other Asian markets started the day on the backfoot while oil prices slipped as fears of a second wave of coronavirus infections in China sent investors scurrying for safe-havens.

While MSCI’s broadest index of Asia Pacific shares outside Japan was last seen trading 0.66 per cent lower, Japan’s Nikkei 225 benchmark was down 0.55 per cent.

The E-Mini S&P 500 futures were down 1.28 per cent in early Asian trade, indicating a lower start for US equity markets on Monday.