Sensex, Nifty likely to open lower; Bharti Airtel, Jet Airways, Jaypee Infratech in focus
Episode 310, Aug 02, 2019, 02:18 AM
Indian shares are set to start on a weak note on Friday tracking global markets, which traded lower as US President Donald Trump announced the imposition of 10 percent tariff on $300 billion of Chinese goods from September 1, escalating trade tensions between Washington and Beijing.
On Thursday, Indian benchmark indices began August on a somber note, only to end at a five-month low, dragged by public sector banks and metal stocks. Comments from the US Federal Reserve Chair Jerome Powell on future rate cuts also dampened investor sentiment across global markets.
The Sensex settled 463 points lower, or 1.23 percent, to close Thursday's trade at 37,018.32. The Nifty50 also slipped 138 points, or 1.24 percent, to settle at 10,980.
At 7.30 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, traded lower by 46.50 points or 0.42 percent at 10,970, indicating a negative start for the Sensex and the Nifty 50.
Stocks to watch: Bharti Airtel, Jet Airways, Jaypee Infratech in focus.