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MARKETS: Strong start likely ahead of RBI’s rate action; SGX Nifty up 70pts

Byadmin

Aug 5, 2022


Markets, Stock market, sensex, stock market indices

Illustration: Ajay Mohanty

are likely to open in positive territory ahead of the Reserve Bank of India’s (RBI) policy action. Experts expect the Indian central bank to hike interest rates between 35 to 50 basis points (bps). 

As of 8:02 AM, the SGX Futures quoted at 17,454 levels, up 72 odd-points on the Nifty50.

Globally, weak corporate earnings triggered weakness in the US on Thursday. Dow Jones slipped 0.2 per cent, while the S&P 500  lost 0.08 per cent. NASDAQ Composite, however, rose 0.4 per cent and hit a fresh 3-month high.

Major in Asia-Pacific were flat on Friday morning. Nikkei 225 gained 0.06 per cent, whereas South Korea’s Kospi climbed 0.5 per cent.

Meanwhile, oil markets edged lower to their pre-Ukraine war levels. Brent Crude slipped 0.1 per cent to $93 per barrel and WTI Crude declined 0.1 per cent to $88 per barrel.

Back home, Titan, M&M, FSN e-Commerce Ventures, One97 Communications will report their June quarter numbers (Q1FY23). 

Besides, shares of LIC Housing Finance will be in focus after they reported 503 per cent year-on-year (YoY) rise in net profit to Rs 925.4 crore

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