36626What problems are there with recycled mobile numbers?

The domestic equity markets are likely to extend their previous session’s gaining momentum with gap-up opening tracking rally in Asian peers. Traders will be taking some encouragement as India recorded daily cases below 3 lakh for the second straight day. The fresh case count in the last 24 hours stood at 2.63 lakh versus 2.81 lakh. Some support will come with the RBI data showing that India Inc’s foreign investment in the first month of this current fiscal jumped by more than two times year-on-year to $2.51 billion.

However, there may be some cautiousness as Moody’s Investors Service said if the second wave of the pandemic does not decline to more manageable levels and results in a prolonged and wider lockdown, it will have a more severe effect on companies’ earnings recovery.

Market participants may take note of report that the Reserve Bank of India (RBI) said in its monthly bulletin that the biggest blow emerging from the second wave of the coronavirus pandemic is demand shock while the supply side remains better positioned.

The benchmark equity indices BSE Sensex and NSE Nifty surged over 1.5% on Monday boosted by banking and financial stocks, as they rebounded from a sharp drop in the previous session.

The US markets ended lower on Monday weighed down by tech shares as signs of growing inflation worried investors about the potential for tighter monetary policy. Asian markets are trading in green on Tuesday as investors weighed the pace of growth as nations vaccinate and economies reopen against a pick-up in virus cases in the region.