Nifty-Sensex View - 02.09.2020: 09.00 Am
Pre-Session: Flat opening on cards for Sensex, Nifty today
02/09/2020 08:36
Domestic bourses are expected to start the day on a flat note on Wednesday. Investors will today focus on global cues, Supreme Court's hearing on loan moratorium, August auto sales, and stock-specific. Apart from these, news on the Covid-19 front and the India-China ties will also influence sentiment.
The Supreme Court will today hear and decide on a bunch of petitions demanding waiver of interest during the moratorium period. Yesterday, the Centre and the RBI informed the apex court that the moratorium on repayment of loans must be extendable to two years under certain conditions.
Meanwhile, after a 23.9 per cent decline in Q1, major rating agencies have raised their projections of the contraction of India’s economy in the current fiscal year, with some anticipating a double-digit fall.
Further, the August automobile sales for most companies, announced yesterday, signalled a sharp recovery which also prompted swift moves in the respective stocks. Companies like Maruti Suzuki, Hero MotoCorp, and Eicher Motors have shown a rebound in sales, and, as such, investors will today keep a keen eye on the sales figures of the rest of the automakers today.
On Tuesday, the 30-share benchmark index ended at 38900.8 up by 272.51 points or by 0.71 % and then NSE Nifty was at 11470.25 up by 82.75 points.
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