Indian equity market is expected to be volatile on Wednesday tracking global cues. SGX Nifty, which indicates the movement for key Indian indices, suggests a negative opening.
After two straight sessions of sharp gains, Asian stocks tumbled today as investors became wary of getting too optimistic over the slowing spread of coronavirus while death toll continues to rise across the globe.
Volatility in oil market, where prices rebounded in early trade in Asia, left traders in a fix. US crude futures jumped 5.4% to $24.92 a barrel, having shed 9.4% the session before, while Brent crude added 74 cents to $32.61.
The erratic action spilled over into equities, with MSCI's broadest index of Asia-Pacific shares outside Japan losing 0.5%. Japan's