Pre Market Report : 04.01.2019
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Pre Session: Sensex, Nifty to open flat; Sun Pharma in focus
04/01/2019 08:54
The Indian benchmark indices are likely to open flat on Friday tracking muted trend seen in other Asian markets. Wall Street plunged on Thursday after slowing US factory activity on the heels of a dire revenue warning from Apple Inc fueled fears of a global economic slowdown. Asian markets were on edge as dire US economic data slammed Wall Street and pushed investors to bet the Federal Reserve could reverse its policy tightening before the end of this year. Oil prices fell on Friday after the United States showed signs of following Asia into an economic slowdown, although supply cuts by producer club OPEC kept declines in check. International Brent crude futures were down 38 cents, or 0.7 percent, at $55.57 a barrel. Data for December from the Institute for Supply Management (ISM) on Thursday showed the broadest US slowdown in growth for more than a decade, as the trade conflict with China, falling equity prices and increasing uncertainty started to take a toll on the world's biggest economy. Back home, bullish trends in the SGX Nifty Index Futures for January delivery, were trading at 10,727.00 up by 7.00.
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