Nifty-Sensex-Pre Market Report : 08.03.2019
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Pre Session: Sensex, Nifty likely to open flat; Bharti Airtel shares in focus
08/03/2019 08:51
Indian frontline benchmark indices are likely to take cues from the movement of rupee against the US dollar, stock-specific action, crude oil prices, and other global cues will also influence market on Friday. Springing a surprise, the European Central Bank (ECB) pushed out the timing of its first post-crisis rate hike until 2020 at the earliest and offered banks a new round of cheap loans to help revive the eurozone economy. ECB President Mario Draghi said the economy was in “a period of continued weakness and pervasive uncertainty”. Asian stocks shuddered lower on Friday after the ECB slashed its growth forecasts and launched an emergency round of policy stimulus, leaving investors fearing the worst for the global economy. Oil prices fell on concerns the weakness in Europe and a rise in US crude output may offset any impact of OPEC supply cuts. In its third straight session of gain, the rupee moved up 28 paise to close at 70 against the dollar on Thursday amid robust foreign inflows and strong buying in domestic equities. Back home, bearish trends in the SGX Nifty Index Futures for March delivery, which were trading at 11,070.50, down by 17.00 points.
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