Nifty-Sensex-Pre Market Report : 30.04.2019
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Pre Session: Sensex, Nifty to open negative; Yes Bank shares in focus
30/04/2019 08:46
The domestic benchmark indices are likely to open negative on Tuesday taking cues from corporate earnings and global cues, including Fed policy rate decision, also the trends on SGX Nifty indicate a negative opening for the broader index in India. The Reserve Bank of India (RBI) will release Monetary and Credit Information review, Federal Fiscal Deficit and Infrastructure Output report (YoY) later in the day. Shares in Asia fell on Tuesday despite another record high close for the S&P 500, as investors await a US Federal Reserve policy decision for clues of whether it will continue to take a “patient” approach to interest rate policy. Back home, RBI has proposed sterner rules on opening and running of current accounts of corporate borrowers. Current accounts, according to a draft circular shared by the regulator with the banking industry, can “only be opened” with the lead bank in a lending consortium while other banks having collection accounts will have to transfer funds at the end of the day to the current account with the consortium leader. On the corporate front, according to reports, ITC is being probed for not passing on GST benefits to customers. YES Bank shares are likely to face pressure when the trading resumes on Tuesday after the lender reported a surprise loss of a whopping Rs 1,506 crore for the March quarter under a new management led by Ravneet Gill. Reliance Nippon Life Asset Management reported 34 per cent jump in its net profit at Rs 151 crore during the fourth quarter of 2018-19. On the earnings front, as many as 45 companies will declare their results for the quarter ended March later today which include names like Ambuja Cements, Can Fin Homes, Gammon India, Kotak Mahindra Bank, TVS Motor Company and Zensar Technologies among others. The 30-share index settled at 39067.33 up by 336.47 points or by 0.87 per cent and then NSE Nifty was at 11754.65 up by 112.85 points.
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