Nifty-Sensex-Pre Market View - 17.12.2019: 09.00 Am
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Pre-Session: Positive start on cards for domestic bourses
17/12/2019 08:31
Indian benchmark indices are expected to start the day on positive note on Tuesday. Further cut in India's FY20 GDP growth forecast by Moody's, RBI's assurance that there is more scope for rate cuts and complete acquisition of Essar Steel by ArcelorMittal and Nippon Steel are some of the major factors that are expected to guide markets today.
Yesterday, Moody’s lowered India’s FY20 GDP forecast to 4.9 per cent from 5.8 per cent, citing weak household consumption. The rating agency said that slower economic growth over the past few quarters would dent the debt repayment capacity of households and hurt retail loan quality.
This came shortly after data showed that the WPI-based inflation in November rose 0.58 per cent, from 0.16 per cent in October, driven by a food inflation rate which was a 71-month high.
However, market participants will also factor in RBI Governor Shaktikanta Das' reassurance that there is more scope for rate cuts.
On Monday, the 30-share benchmark index ended at 40938.72 down by -70.99 points or by -0.17 % and then NSE Nifty was at 12053.95 down by -32.75 points.
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