What will drive share market today: Q4 GDP data, other key factors to watch out for

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Published: May 31, 2019 9:03:05 AM

The Indian headline indices-  Sensex and Nifty are likely to open flat ahead of gross domestic product or GDP data release for Jan-Mar on Friday.

Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, शेयर बाजार, स्टॉक मार्केट, Indian Share Market Live, Indian Stock Market LiveSensex, Nifty to open flat on Friday ahead of GDP data release for Jan-Mar and global growth concerns

The Indian headline indices-  Sensex and Nifty are likely to open flat ahead of gross domestic product or GDP data release for Jan-Mar on Friday. Asian stocks and US futures plunged over global slowdown concerns after US President Donald Trump slapped new tariffs on Mexico goods. SGX Nifty today settled at 11,978.50 level, 0.50 points higher from the previous settlement. Indian indices- Sensex and Nifty 50 ended at record high levels in yesterday led by IT and banking stocks.  On Thursday, while the Sensex closed 330 points higher at 39,832 level, the Nifty50 ended up 85 points at a fresh closing high of 11,946 level. We take a close look at key things which will drive the market today:

FII and DII: The foreign institutional investors (FIIs) bought shares worth Rs 1,665 crore on a net basis, while domestic institutional investors (DIIs) sold shares worth Rs 1,123 crore as on May 30, according to NSE data.

Also read: Little to cheer for PSU banks in July Budget; no govt recapitalisation till December

FICCI on GDP Growth: India’s GDP is likely to grow at 6.5 per cent in the fourth quarter ended March 2019, according to a survey by industry chamber FICCI. According to the FICCI report, the annual median GDP growth forecast for the fiscal year 2019-20 is 7.1 per cent and the forecast for the fiscal year 2020-21 is 7.2 per cent.

US-Mexico trade tensions: After US-China trade tensions, new global trade tensions emerged after President Trump on Thursday said he would impose a 5 per cent tariff on all goods entering from Mexico unless it ceased the flow of illegal immigration to the US. According to reports, the US is planning to begin levying the import penalties on June 10 and increase the penalties if the migrant flow isn’t stopped.

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