MARKET LIVE: SGX Nifty suggests positive start for benchmark indices

Benchmark indices may open Thursday’s session higher after Federal Reserve Chairman Jerome Powell hinted at a possible rate cut later this month.

In an appearance before his Congressional overseers on Wednesday, Powell confirmed that the US economy is still under threat and that the central bank stands ready to “act as appropriate”.

The SGX Nifty also signalled a positive start for the indices.
 

On Wednesday, the benchmark S&P BSE Sensex ended 0.45 per cent lower at 38,557 and the broader Nifty50 settled 0.49 per cent lower at 11,498. 

Results today 

CCL Products and Den Networks will announce their Q1FY20 results today.

Global cues

Asian stocks rose on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, while Japan’s Nikkei added 0.15 per cent, and South Korea’s KOSPI climbed 0.7 per cent.

In US, the Dow Jones rose 0.29 per cent to 26,860, the S&P 500 gained 0.45 per cent to 2,993 and the Nasdaq Composite added 0.75 per cent to 8,203.

In commodities, US oil futures hit their highest in over a month on Thursday. US WTI crude futures were up 11 cents at $60.54 a barrel, while Brent crude futures were down 5 cents at $66.96 a barrel.

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