Sensex, Nifty Likely To Open Higher Ahead Of RBI Policy Statement

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Domestic stock markets are likely to start Friday’s session on a positive note, ahead of the release of the fourth bi-monthly policy statement of the year by the Reserve Bank of India (RBI). At 8:48 am, the Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange (NSE) Nifty index in India – were up 17.50 points – or 0.15 per cent – at 11,376.50. Equities in other Asian markets edged higher tracking gains on Wall Street, but the mood was cautious before a key US job report that could help determine whether the Federal Reserve cuts interest rates further. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent. Japan’s Nikkei stock index lost 0.17 per cent, but Australian shares edged 0.05 per cent higher. On Thursday, the Sensex and Nifty had declined 0.52 per cent and 0.40 per cent respectively to close lower for a fourth straight session.

Investors have been caught out by a set of weak US data this week, including surveys on services and manufacturing sectors, deepening fears the China-US trade war is starting to hurt growth in the world’s biggest economy.

Source By NDTV

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