Nifty-Sensex-Pre Market Report : 05.08.2019
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Pre-Session: Negative start on cards for domestic bourses
05/08/2019 08:40
Indian benchmarks are expected to start the day on sluggish note amid negative cues from the global peers. Asian shares extended their losses on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent. Japan's Nikkei slipped 1.1 per cent, while Australian shares were also down. Trends on SGX Nifty also indicate a negative opening for the broader index in India. Nifty futures were trading around 10,943-level on the Singaporean Exchange. Wall Street extended its sell-off on Friday on renewed trade fears as the benchmark S&P 500 index and Nasdaq saw their worst weekly percentage plunges since December, when investors were spooked by the prospect of a looming recession. The blue chip Dow and the S&P 500 hit their lowest levels since late June with S&P 500 and the Nasdaq registering their fifth consecutive days of losses. The Dow Jones Industrial Average fell 98.41 points, or 0.37%, to 26,485.01, the S&P 500 lost 21.51 points, or 0.73%, to 2,932.05 and the Nasdaq Composite dropped 107.05 points, or 1.32%, to 8,004.07. Investors will further look at corporate earnings, global cues, and macroeconomic data for market direction today. Investors will react to major results announced post market hours on Friday and during the weekend as well as the ones to be announced today. They will keep an eye out for India-Markit PMI services & composite number set to be released later in the day. The progress in monsoon, foreign fund flow, oil price, and the movement of rupee against the US dollar will also be on investors' radar. On Friday, the 30-share benchmark ended at 37118.22 up by 99.9 points or by 0.27 % and then NSE Nifty was at 10997.35 up by 17.35 points.
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