Sensex, Nifty likely to open little changed; RCom, Bharti Airtel, Manpasand Beverages in focus
Episode 265, May 30, 2019, 02:11 AM
Indian shares are set to open little changed on Thursday ahead of the expiry of futures and options contracts and fourth-quarter gross domestic product (GDP) data.
Investors will also keep an eye on new government formation and ministry allocation as Narendra Modi is set to take oath as the prime minister of India for the second term.
In global markets, Asian shares fell following losses on Wall Street as US and China showed no signs of easing trade tensions. Chinese newspapers reported that Beijing could use rare earths to strike back at Washington, reported Reuters.
Indian benchmark indices BSE Sensex and NSE’s Nifty 50 settled snapped a three-day losing streak and settled 0.6 percent lower in the previous session. The Sensex settled 248 points lower at 39,502, while the Nifty50 lost 68 points to end at 11,861.
At 7.10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 15 points, or 0.13 percent, at 11,879, indicating a mixed start for the Sensex and the Nifty 50.
Stocks in watch: RCom, Bharti Airtel, Manpasand Beverages in focus.