Nifty-Sensex-Pre Market View - 26.08.2019: 09.00 Am
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Pre-Session- Sensex, Nifty likely to open in green on Monday
26/08/2019 08:43
The Indian equity markets are set for a surge today following the rollback of an additional levy on foreign funds and a raft of measures announced by the government to boost economic growth.The enhanced surcharge on long and short-term capital gains has been withdrawn, Finance Minister Nirmala Sitharaman said on Friday. She also announced an immediate infusion of Rs 70,000 crore to boost capital of banks, and lifting of curbs on government departments to buy new vehicles. Stocks of public sector banks and auto firms may be in focus today following the finance minister's announcements for the sectors. However, the gains may be capped due to weak global cues. US President Donald Trump, on Friday, announced he would hike existing tariffs, applied to about $250 billion in Chinese goods, to 30 per cent from 25 per cent as of October 1. He also said a new round of tariffs on $300 billion in goods will be taxed at 15 per cent, up from 10 per cent. The Dow Jones Industrial Average was down 103.97 points, or 0.40%, at 26,148.27, the S&P 500 was down 12.45 points, or 0.43%, at 2,910.50. The Nasdaq Composite was down 45.05 points, or 0.56%, at 7,946.34. Asian shares sank on Monday as the latest salvo in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbors of sovereign bonds and gold, while slugging emerging market currencies. MSCI’s broadest index of Asia-Pacific shares outside Japan still shed 2.0%, and Australia 1.5%. Japan’s Nikkei lost 2.3%, while Shanghai blue chips fell 1.2%. E-Mini futures for the S&P 500 eased 0.8%, and EUROSTOXX 50 futures 1.1%. Back home, the 30-share benchmmark on Friday ended at 36701.16 up by 228.23 points or by 0.63 % and then NSE Nifty was at 10829.35 up by 88 points.
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