Nifty-Sensex-Pre Market View - 23.08.2019: 09.00 Am
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Pre Session- Sensex, Nifty likely to open flat on Friday
23/08/2019 08:34
The Indian benchmark indices are likely to open on a flat note on Friday. Trends in the SGX Nifty Index Futures for August delivery, which were trading at 10,708.50, down by 10.50 points or 0.10 per cent, at 10:52 AM, Singapore Time, also indicated a flat start for local bourses. Experts feel the selling pressure is likely to continue in the short term and advised using sell on a rise strategy.
The dimming hopes of a government stimulus, and the rupee's trajectory will be the biggest factors giving direction to the markets today. On the currency front, the Indian rupee on August 22 plunged to an over eight-month low of 71.81, dropping 26 paise against the US dollar as tumbling equities and incessant foreign fund outflows weighed on sentiment. On the global front, Wall Street’s main indexes stood a little changed on Thursday as a fall in US jobless claims offset data showing a contraction in US manufacturing activity while investors awaited Federal Reserve Chair Jerome Powell’s speech on Friday for clues on the central bank’s monetary policy. The Dow Jones Industrial Average rose 49.51 points, or 0.19 per cent, to 26,252.24, the S&P 500 lost 1.48 points, or 0.05 per cent, to 2,922.95 and the Nasdaq Composite dropped 28.82 points, or 0.36 per cent, to 7,991.39. Asian shares struggled to make any headway on Friday as weak US manufacturing activity and uncertainty over how much further the Federal Reserve would cut rates added to the general air of caution in markets buffeted by global growth fears. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.1 per cent lower, Japan’s benchmark Nikkei added 0.2 per cent and Australian stocks eased 0.1 per cent, while South Korean shares shed 0.3 per cent. On institutional front, FPIs were net sellers in Indian markets for Rs 902 cr while the DIIs were net buyers to the tune of Rs 1719 cr, provisional data showed. Back home, the 30-share benchmark index ended at 36472.93 down by -587.44 points or by -1.59 % and then NSE Nifty was at 10741.35 down by -177.35 points.
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