Nifty-Sensex-Pre Market Report : 24.07.2019
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Pre-Session: Sensex, Nifty likely to open flat on Wednesday
24/07/2019 08:49
Indian benchmark indices are expected to start flat on Wednesday. Corporate earnings and global cues will continue to dominate investor sentiment today. Investors will first react to major results announced Tuesday post-market hours. In that regard, Larsen & Toubro (L&T) and Hindustan Unilever (HUL) will be in focus. L&T’s net profit for the June quarter rose 21 per cent on the back of improved performance. FMCG major HUL reported its lowest volume growth in seven quarters owing to moderation in consumer demand while net profit rose 15 per cent year-on-year to Rs 1,755 crore. Besides, market participants may also react to the International Monetary Fund lowering India's FY20 growth forecast by 30 basis points to 7 per cent, citing subdued domestic demand. On the global front, the US market gained on Tuesday, lifted by corporate results and optimism over the US-China trade talks. The Dow Jones rose 0.65 per cent to end at 27,349, while the S&P 500 gained 0.68 per cent to 3,005. Asian shares also started higher on Wednesday. Japan’s Nikkei added 0.4 per cent in early trade, while Australian stocks rose 0.6 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.04 per cent. On Tuesday, the 30-share benchmark ended at 37982.74 down by 48.39 points or by 0.13 % and then NSE Nifty was at 11331.05 down by 15.15 points.
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