Market Outlook: BSE Sensex, NSE Nifty likely to open positive on global cues

The BSE Sensex and NSE Nifty are likely to open flat with marginal gains tracking SGX Nifty and other Asian markets.

At 8.29 am (IST), SGX Nifty was trading 0.17 per cent higher than its previous close.

Retail inflation unexpectedly hit a record low of 3.78 per cent in July as food inflation plunged, while industrial production rose 3.8 per cent in June against 2.5 per cent in the previous month, presenting a feel-good factor for policy makers.

Asian peers, Hang Seng, Shanghai and Nikkei 225 were up 0.08 per cent, 0.23 per cent and 0.42 per cent at 23,934, 3,899 and 20,478, respectively.

Companies like DLF, Symphony, Valecha Eng, Fedders Lloyd, Balaji Tele, Asian Tiles, Paper Products, Kohinoor, PC Jeweller, Bajaj Hindusthan, Essar Ports, Eros Media, Cosmo Films, Jindal Poly, Jubilant Food, Atlas Cycle, Amrutanjan, Ajantha Pharma, La Opala, MMTC, IOC, IRB, Panacea Bio, Vadilal Ind, Triveni Turbine, Tata Power, STC India, DCM, Rajesh Exports, ONGC, and Gujarat Apollo will announce their results on Thursday.

On Wednesday, the benchmark BSE Sensex and NSE Nifty declined 1.27 per cent and 1.33 per cent to 27,512.25 and 8,349.45, respectively.

China’s currency fell to a four-year low on Wednesday, slumping for a second day.