Nifty-Sensex-Pre Market Report : 07.08.2019
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Pre-Session: Sensex, Nifty to open in red; RBI policy outcome eyed
07/08/2019 08:40
Indian benchmarks are expected to start the day on a cautious note as all eyes will be on the Reserve Bank of India (RBI) today as the monetary policy committee (MPC) will conclude its three-day meet and announce its decision on policy rates. As per a survey by Reuters, almost 80 per cent of 66 economists polled expected RBI to cut the repo rate by 25 bps. Investors will also react to results announced post market hours yesterday, corporate earnings, global cues, foreign fund flow and any movement on the Kashmir situation front. As many as 146 stocks will report their results for the quarter ended June which incluide names like Adani Power, Aurobindo Pharma, Cipla, Cummins India, Gravita India, HCL Technologies, India Cements, KEC International, Lupin, M&M, OFSS, Petronet LNG, PTC India, Siemens, Tata Steel and Voltas among others. US stocks jumped more than 1 percent on Tuesday, bouncing back from a sharp sell-off the previous day as China stepped in to stabilize the yuan, easing concerns that currencies would be the next weapon in the US-China trade war. The Dow Jones Industrial Average rose 311.78 points, or 1.21%, to 26,029.52, the S&P 500 gained 37.03 points, or 1.30%, to 2,881.77 and the Nasdaq Composite added 107.23 points, or 1.39%, to 7,833.27. Asian shares steadied slightly on Wednesday as investors caught their breath from a searing week-long selloff, with steps taken by Chinese authorities to contain a sliding yuan helping calm fears of a full-blown Sino-US trade and currency war. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05% in early trade after tumbling 8.26% in the previous eight sessions. Japan's Nikkei bucked the trend to slip 0.26% ON Tuesday, the 30-share benchmark index ended at 36976.85 up by 277.01 points or by 0.75 % and then NSE Nifty was at 10948.25 up by 85.65 points.
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