{"id":11037,"date":"2021-06-21T03:03:13","date_gmt":"2021-06-21T03:03:13","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/06\/21\/sensex-nifty-likely-to-see-gap-down-opening-on-fed-worries\/"},"modified":"2021-06-21T03:03:13","modified_gmt":"2021-06-21T03:03:13","slug":"sensex-nifty-likely-to-see-gap-down-opening-on-fed-worries","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/06\/21\/sensex-nifty-likely-to-see-gap-down-opening-on-fed-worries\/","title":{"rendered":"Sensex, Nifty Likely To See Gap-down Opening On Fed Worries"},"content":{"rendered":"
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Indian shares are seen opening sharply lower on Monday after last week’s Federal Reserve’s policy meeting raised more questions than it answered.<\/p>\n

The upcoming 44th Annual General Meeting (AGM) of Reliance Industries Limited, the progress of monsoon rains, news flow about the central government’s new policy for COVID-19 vaccination in the country and the scheduled derivatives expiry of June month contracts may sway sentiment as the week progresses.<\/p>\n

Asian stocks tumbled this morning and the dollar held near multi-month highs against other major currencies as traders brought forward expectations for when the Federal Reserve will start tapering its asset purchases. <\/p>\n

Japan’s Nikkei index fell more than 3 percent to drop below 28,000 for the first time in a month, while benchmark indexes in Australia and South Korea were down more than 1 percent. <\/p>\n

Gold rebounded from six sessions of losses, but still held near the lowest since early May amid dollar strength. Crude oil prices extended gains for a second day after reports that producer group OPEC expects limited U.S. oil output growth this year.<\/p>\n

U.S. stocks fell sharply on Friday as St. Louis Federal Reserve President Jim Bullard offered a fresh dose of hawkishness, saying he sees an initial interest rate increase happening in 2022.<\/p>\n

The Dow fell 1.6 percent to extend losses for the fifth day running and reach its lowest closing level in over two months, while the S&P 500 tumbled 1.3 percent while the tech-heavy Nasdaq Composite shed 0.9 percent. <\/p>\n

European stocks tumbled on Friday, with a hawkish policy outlook from the U.S. Federal Reserve and signs of policy tightening in China weighing on markets<\/span>.<\/p>\n

The pan European Stoxx 600 lost 1.6 percent. The German DAX gave up 1.8 percent, France’s CAC 40 index declined 1.5 percent and the U.K.’s FTSE 100 fell 1.9 percent. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n