Nifty-Sensex-Pre Market View - 20.08.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in red
20/08/2019 08:37
Indian benchmarks are expected to start the day in red on Tuesday. Trends on SGX Nifty indicate a negative opening for the broader index in India as Nifty futures were trading around 11,040-level on the Singaporean Exchange. Global cues, rupee trajectory, and oil price movement will be the top factors that will give direction to the markets today as investors continue to await measures from the government to spur growth. Stocks of non-banking financial firms may be in focus today after the government said such firms would no longer have to maintain a certain level of redemption reserves against them. On the taxation front, the Direct Tax Code (DTC) task force has recommended a significant increase in the highest income tax slabs, besides slashing the corporate tax rate to an even rate of 25 per cent for both domestic and foreign companies, as per a Business Standard report. On the global front, US stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell. The Dow Jones Industrial Average rose 249.78 points, or 0.96%, to 26,135.79, the S&P 500 gained 34.97 points, or 1.21%, to 2,923.65 and the Nasdaq Composite added 106.82 points, or 1.35%, to 8,002.81. Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, helping boost riskier assets and drawing money from safe-havens such as bonds and gold. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.04%, while Japan's Nikkei jumped 0.47%. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21%. Back home, on Monday, the 30-share benchmark index ended at 37402.49 up by 52.16 points or by 0.14 % and then NSE Nifty was at 11053.9 up by 6.1 points.
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