The Indian market is likely to open lower on Thursday following losses in global markets amid concerns over rising cases of coronavirus infection. Investor sentiment is likely to remain weak after the International Monetary Fund slashed its forecasts for global economy. The IMF now estimates a contraction of 4.9 percent in global gross domestic product in 2020, lower than the 3 percent fall it predicted in April. It sees India's GDP contracting by 4.5% in FY21. At 7:00 am, the SGX Nifty was trading 89.50 points lower at 10,223.50, indicating a negative start for the Sensex and Nifty50.
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