Nifty-Sensex-Pre Market View - 04.10.2019: 09.00 Am
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Pre-Session: Domestic bourses likely to open in green; all eyes on RBI policy
04/10/2019 08:41
Indian benchmarks are expected to start the day on a positive note on Friday. All eyes today will be on the monetary policy committee (MPC) of the Reserve Bank of India (RBI) which is expected to slash the benchmark interest rate to revive the sagging economy. A rate cut is almost certain, expect economists and market participants at large, but the quantum varies from 15 basis points (bps) to 40 bps.Besides, Markit Services PMI for September will also be released later in the day. Trends on SGX Nifty also indicate a positive opening for the broader index in India. Nifty futures were trading around 11,380-level on the Singaporean Exchange. Asian stocks edged higher on Friday, thanks to gains on Wall Street, but the mood was cautious before a key US job report that could help determine whether the Federal Reserve cuts interest rates further. MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.16%. Japan's Nikkei stock index rose 0.04% and Australian shares advanced 0.29%. Wall Street stocks climbed on Thursday after data showing US services-sector activity at a three-year low fuelled expectations that the Federal Reserve would cut interest rates to stem a wider economic downturn. The Dow Jones Industrial Average rose 0.47% to end at 26,201.04, while the S&P 500 gained 0.80% to 2,910.63. The Nasdaq Composite added 1.12% to end the session at 7,872.27. Back home, on Thursday, the 30-share benchmark ended at 38106.87 down by -198.54 points or by -0.52 % and then NSE Nifty was at 11314 down by -45.9 points.
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