Nifty-Sensex-Pre Market View - 05.12.2019: 09.00 Am
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Pre-Session: Negative start on cards; RBI policy outcome eyed
05/12/2019 08:34
Indian benchmarks are expected to start the day in red on Thursday. Investors will today await the outcome of the Reserve Bank of India's (RBI) fifth monetary policy meet of the financial year 2019-20 (FY20), due later in the day. The central bank is likely to deliver its sixth straight interest-rate cut to support economic growth. RBI has cut borrowing costs by 135 basis points (bps) so far in 2019 to a nine-year low of 5.15%.
Markets will also react to some developments in the telecom sector. First, Bharti Airtel has announced a $3-billion fund raising, including through QIPs, mainly to pay dues linked to the AGR as directed by the Supreme Court recently.
Secondly, Jio has followed Voda Idea and Airtel in raising tariff. Jio's updated tariff plans will be applicable from December 6.
In a crucial development yesterday, the Union Cabinet approved the launch of India’s first bond ETF which can be bought and sold like any listed security on the bourses.
On Wednesday, the 30-share benchmark index ended at 40850.29 up by 174.84 points or by 0.43 % and then NSE Nifty was at 12043.2 up by 49 points.
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