Sensex, Nifty likely to open flat; CG Power, HDFC Bank, ICRA shares in focus

Aug 30, 2019, 02:17 AM
Indian shares are set for a flat start on Friday amid expectations of the first quarter GDP data due to be released today. A poll conducted by Reuters showed that the Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand. 

In global markets, Asian shares rose as China struck a hopeful tone on trade with the United States but continued fears about a global growth slowdown, or even a recession, capped sharp rallies. 

On Thursday, Indian benchmark indices fell for a second day, led by losses in financial stocks. The Sensex settled 383 points lower, or 1.02 percent, to close Thursday's trade at 37,068. The Nifty50 also slipped 98 points, or 0.89 percent, to settle at 10,948. 

At 7.12 AM, the SGX Nifty futures traded 4.50 points, or 0.04 percent, lower 11,012.50, pointing to a muted start for the Sensex and the Nifty50.

Stocks to watch: CG Power, HDFC Bank, ICRA in focus.