Nifty-Sensex-Pre Market Report - 16.08.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in green
16/08/2019 08:37
Indian benchmarks are expected to start the day on a positive note amid mixed cues from the global peers. Trends on SGX Nifty indicate a positive opening for the broader index in India. Nifty futures were trading around 10,937-level on the Singaporean Exchange. Global cues and report of a possible stimulus package by the government to counter the economic slowdown will be the biggest factors giving direction to the markets today. As per reports, the government might soon provide a broad stimulus package or a sector-specific booster dose. This comes after Prime Minister Narendra Modi's meet with Finance Minister Nirmala Sitharaman and officials of her ministry on Thursday. There might also be some relief to foreign portfolio investors from the super-rich surcharge. On the global front, the S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering US-China trade tensions. Wall Street zig-zagged from red to black and back much of the day as investors juggled mixed messages of a strong consumer and dropping US Treasury yields. The Dow Jones Industrial Average rose 99.97 points, or 0.39%, to 25,579.39, the S&P 500 gained 7 points, or 0.25%, to 2,847.6, and the Nasdaq Composite dropped 7.32 points, or 0.09%, to 7,766.62. Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-US trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows. Japan's Nikkei fell 0.5%, making a loss of 1.8% on the week, while commodity-exposed Australia was heading for a weekly drubbing of 2.7%. E-Mini futures for the S&P 500 did rise 0.24%, but were still off 2.2% on the week so far. Bank home, on Thursday, the 30-share benchmark index ended at 37311.53 up by 353.37 points.
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