Nifty-Sensex-Pre Market Report : 07.03.2019
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Pre Session: Flat opening seen for Sensex, Nifty; Vedanta shares in focus
07/03/2019 08:47
Indian benchmark indices are likely to open flat on Thursday amid weak global cues. Asian shares were trading mixed in early trade on Thursday, with caution prevailing as investors awaited some kind of resolution to Sino-US trade negotiations. Overnight, Wall Street’s main indexes fell for a third session. US' trade deficit, which hit a 10-year high of $621 billion in 2018, and lower global economic growth forecast by OECD are expected to be on investors' radar when trading resumes today. Besides, markets will also be awaiting monetary policy announcement by ECB (European Central Bank), due later in the day. US President Donald Trump said on Wednesday that trade talks with China were moving along well and predicted either a “good deal” or no deal between the world’s two largest economies. The abrupt exit of the US FDA commissioner Scott Gottlieb after a nearly 2-year stint under the Trump administration throws Indian pharma into uncertainty on what would be the stance of the next commissioner on generics drug pricing, pace of approvals and regulatory inspections. Oil prices eased on Thursday, dragged down by record US crude output and rising commercial fuel inventories. US West Texas Intermediate (WTI) crude oil futures were at $56.11 per barrel, down 11 cents, or 0.2 percent, from their last settlement. Back home, bearish trends in the SGX Nifty Index Futures for March delivery, which were trading at 11,088.50, down by 8.50 points.
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