Nifty-Sensex-Pre Market Report : 22.07.2019
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Pre-Session: Markets likely to open negative
22/07/2019 08:43
Indian benchmarks are expected to start the day in red amid disappointment over earnings, and unhappiness among FPIs after the Finance Minister refused to tweak the surcharge on the super-rich. Trends on SGX Nifty indicate a negative opening for the broader index in India. Nifty futures were trading around 11,397-level on the Singaporean Exchange. Further, investors will continue to track the June quarter earnings. As many as 32 companies will declare their results for the quarter ended June which include names like Aptech, Can Fin Homes, ICICI Securities, Kotak Mahindra Bank, TVS Motor Company, OBC, and United Spirits among others. On the global front, Wall Street’s main indexes fell on Friday following a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of the month. The benchmark S&P 500 erased earlier marginal gains after a Wall Street Journal report on the Fed’s plans. According to the report, while the US central bank is not prepared to make a bigger 50-basis-point cut, it may make further rate cuts in the future given concerns about a decline in global economic growth and uncertainty about trade. The Dow Jones Industrial Average fell 68.77 points, or 0.25 percent, to 27,154.2, the S&P 500 lost 18.5 points, or 0.62 percent, to 2,976.61 and the Nasdaq Composite dropped 60.75 points, or 0.74 percent, to 8,146.49. Asia stocks eased on Monday as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve, while heightened Middle East tensions following an Iranian seizure of a British tanker lifted crude oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent. South Korea's KOSPI shed 0.3 percent, Australian stocks lost 0.2 percent and Japan's Nikkei fell 0.5 percent. On Friday, the 30-share benchmark ended at 38337.01 down by 560.45 points or by 1.44 % and then NSE Nifty was at 11419.25 down by 177.65 points.
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