Nifty-Sensex-Pre Market View - 27.08.2019: 09.00 Am
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Pre Session- Sensex, Nifty to open positive amid improved investor sentiment
27/08/2019 08:50
The Indian benchmark indices are likely to open on a positive note on Tuesday and may keep up the upmove from Monday's session amid improved investor sentiment due to the government's economic measures and the winding down of the US-China trade rhetoric. Trends in the SGX Nifty Index Futures for August delivery, which were trading at 11,109.00, up by 56.50 points or 0.51 per cent, at 11:12 AM, Singapore Time, also indicated a positive start for local bourses.
The Dow Jones Industrial Average rose 269.93 points, or 1.05%, to 25,898.83, the S&P 500 gained 31.27 points, or 1.10%, to 2,878.38, and the Nasdaq Composite added 101.97 points, or 1.32%, to 7,853.74. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2% after dropping 1.3% the previous day. South Korea's KOSPI added 0.8% and Japan's Nikkei rose 1%. Asian stocks tracked global peers higher on Tuesday while safe-haven bonds sold off as signs Sino-US trade hostilities might be easing helped restore investor confidence after the previous session’s rout. On the global front, the President Donald Trump, under pressure to scale back a US-China trade war partly blamed for a global economic slowdown, claimed on August 26 that the two sides will begin serious negotiations soon. On the macro front, the Reserve Bank of India (RBI) will transfer a surplus of Rs 1.76 lakh crore to the government as it has approved the recommendations of Bimal Jalan committee at the central board meet held in Mumbai on August 26. The transfer sum comprises of Rs 1.23 lakh crore of surplus for the financial year 2018-19 and Rs 52,637 crore of excess provisions identified under the revised Economic Capital Framework (ECF) that was adopted at the central board meet. The Central Board decided to maintain the realized equity level at 5.5 percent of the balance sheet as recommended by the committee, down from existing 6.8 percent. The resultant excess risk provisions of Rs 52,637 crore were written back, RBI said. On the corporate front, the board members of Kajaria Ceramics approved the scheme of amalgamation for merger of subsidiary Kajaria Tiles Private Limited (formerly known as Kajaria Floera Ceramics Private Limited) with the company. Back home, the 30-share benchmark index ended at 37494.12 up by 792.96 points or by 2.16 % and then NSE Nifty was at 11057.85 up by 228.5 points.
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