Nifty-Sensex-Pre Market View - 19.08.2019: 09.00 Am
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Pre Session- Sensex, Nifty likely to open flat with positive bias
19/08/2019 08:44
The Indian benchmark indices likely to open flat with a positive bias on Monday morning amid the global cues hoping for government measures to revive economy, foreign fund flows and oil prices. Trends in the SGX Nifty Index Futures for August delivery, which were trading at 11,059, up by 5.00 points or 0.05 per cent, at 11:12 AM, Singapore Time, also indicated a flat start for local bourses. On the global front, trade tensions between the US and China and fears of recession are likely to keep the investors on tenterhooks. The foreign investors pulled out Rs 8,319 crore on a net basis from capital markets in the first half of August, in order to continue their selling spree in the Indian market amid uncertainty over FPI tax and global trade worries. US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. Asian stocks rose on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors’ fears of a sharp global economic slump. On the macro front, the Reserve Bank of India (RBI) is slated to release the minutes of its Monetary Policy meeting on Wednesday, August 21, 2019. The central bank lowered the repo rate by 35 basis points to 5.40 per cent during its August meeting. On the corporate front, drug firm, Sun Pharma stated that it had granted an exclusive license to a subsidiary of China Medical System Holdings (CMS) to develop and commercialize seven generic products in Mainland China. Back home, on friday, the 30-share benchmark index ended at 37350.33 up by 38.8 points or by 0.1 per cent, while the NSE Nifty was at 11047.8 up by 18.4 points.
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