The Indian headline indices- Sensex and Nifty are likely to open flat ahead of F&O expiry and Q4 GDP numbers to be announced this week on Friday.
The Indian headline indices- Sensex and Nifty are likely to open flat ahead of F&O expiry and Q4 GDP numbers to be announced this week on Friday. The SGX Nifty ended in red at 11,922 level, 1.50 points down from the previous close.The Indian market ended higher on Monday, on account of continued euphoria among investors after the victory of Prime Minister Narendra Modi’s in Lok Sabha elections. The Sensex ended 248 points higher at 39,683, while the Nifty50 settled up 81 points at a level of 11,925. We take a close look at key things which will drive the share market today:
FIIs and DIIs: As on May 27, 2019, the foreign institutional investors (FIIs) bought shares worth Rs 1,215 crore on a net basis, while domestic institutional investors (DIIs) sold shares worth Rs 328 crore, according to the NSE data.
SBI on GDP: The country’s GDP growth in the Jan-Mar quarter is likely to moderate to 6.1-5.9 per cent, which could pull down growth rate for the overall financial year 2018-19 to below 7 per cent, SBI said in a report. The decline in GDP growth may lead to further rate cuts by 0.50 percent by RBI in a bid to revive the economy, according to the SBI Ecowrap report.
FICCI on economy: India’s slowing economic growth is of serious concern and the country needs to cut tax and interest rates to give boost to the economy, industrial body, FICCI said on Monday. The economy grew 6.6 percent in the three months to December , which has been the slowest pace in five quarters. FICCI said it is worrisome that the domestic consumption growth pace is not fast enough to counteract the slowdown global economic environment.
Rupee movement: The Indian rupee closed at 69.50, lower by 0.04 percent against the US dollar from its last close, whereas, the dollar index, was up 0.14 percent to $97.74.