Nifty-Sensex-Pre Market View - 31.10.2019: 09.00 Am
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Pre-Session: Markets likely to start on positive note amid firm global cues
31/10/2019 08:33
Indian benchmark indices are expected to start the day on a positive note on Thursday. Expiry of October series of Futures and Options (F&O) contracts and corporate results would dominate the investor sentiment on today. Besides, a third interest rate cut by the US Federal Reserve could also lift indices. The Fed on Wednesday cut interest rates by 25 bps to a range between 1.5-1.75 per cent to ensure the US economy weathers a global trade war without slipping into a recession. It, however, signalled at a pause in the rate cut cycle. Further, telecom stocks could see major movements today after Reliance Jio on Wednesday attacked incumbent operators saying the SC judgment will have no impact on the government’s digitisation programs, as operators were in any case not investing sufficiently. Moreover, Indian Oil Corporation is scheduled to report its Q2 results today along with 40 other companies. On Wednesday, the 30-share benchmark ended at 40051.87 up by 220.03 points or by 0.55 % and then NSE Nifty was at 11844.1 up by 57.25 points.
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