Nifty-Sensex-Pre Market Report - 08.08.2019: 09.00 Am
Our Blog Information Learning purpose only
(Paper Trading Practice for Currency, Equity, Commodity Segment)
Whatsapp Number : 91-9094047040 / 91-9841986753
RUPEEDESK - SHARE MARKET TRAINING
Pre-Session: Sensex, Nifty likely to start the day on positive note
08/08/2019 08:36
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India. Nifty futures were trading around 10,869-level on the Singaporean Exchange. Corporate earnings and global cues will be the biggest factors giving direction to the markets today. As many as 175 companies, including Page Industries and Ultratech Cement, are scheduled to announce their June quarter earnings today. Market participants will continue to track the Kashmir situation, the progress in monsoon, foreign fund flow, rupee's trajectory, and oil price movement. They will also react to the results announced yesterday post the market hours. HCL Technologies posted an 8.2 per cent year-on-year (YoY) decline in its June quarter net profit at Rs 2,230 crore while revenue rose 18.4 per cent rise YoY to Rs 16,425 crore. Investors would also keep eyes on rate sensitive stocks. The RBI policy stance is clearly pro-growth. The measures taken to increase flows to NBFCs are credit positive and will enhance lending, suggest experts but concerns over the health of the economy and the extent of further rate cut dented sentiment. The RBI’s rate cut and dovish stance indicate an unambiguous focus on growth and a high priority for boosting consumption, said, experts. The RBI has also cut real GDP growth estimates for FY20 from 7% to 6.9%. The rupee dropped 8 paise to finish at 70.89 against the US dollar on August 7 after the RBI cut the key interest rate and lowered the growth estimate for the current fiscal. On Wednesday, the 30-share benchmark index ended at 36690.5 down by 286.35 points or by 0.77 % and then NSE Nifty was at 10855.5 down by 92.75 points.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
