Nifty-Sensex View - 17.03.2020: 09.00 Am
Pre-Session: Flat start likely for Sensex, Nifty on Tuesday
17/03/2020 08:34
Indian benchmark indices are expected to start the day on flat note on Tuesday with the SGX Nifty quickly erasing over 200-point upmove this morning. The Reserve Bank of India's assurance on the liquidity front, fall in crude oil prices, and the coronavirus newsflow will remain the major triggers for the session.As the number of coronavirus cases worldwide continue to pile up, with 114 cases in India, investors are getting more and more concerned about the virus' impact on the global growth and the ability of the governments to control it. The Reserve Bank of India's decision to leave interest rates unchanged for now will also impact sentiment. In a suddenly announced press conference that had raised hopes for an emergency rate cut, Governor Shaktikanta Das promised whatever it takes approach to fend off the economic crisis caused by lockdowns although the timing of any interest rate action would be based on the "evolving situation", he said. The RBI also announced a US dollar sell/buy swap on March 23 worth $2 billion and a Long Term Repo Operation in multiple tranches of up to Rs 1 trillion. On Monday, the 30-share benchmark index ended at 31390.07 down by -2713.41 points or by -7.96 % and then NSE Nifty was at 9197.4 down by -757.8 points.
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