Sensex, Nifty Seen Flat Ahead Of RBI Policy Outcome

(RTTNews) - Indian shares are seen opening on a cautious note Thursday as investors await Reserve Bank of India's stance on key policy rates, loan moratorium and restructuring of loans.

Amid a worsening economic outlook, the six-member Monetary Policy Committee (MPC) headed by RBI Governor will announce its decision later today.

There is some relief on the coronavirus front as Zydus Cadila said its DNA-based vaccine, ZyCoV-D, was found to be safe and well-tolerated in phase 1 trial.

Benchmark indexes Sensex and the Nifty gave up early gains to end on a flat note Wednesday as investors booked profits in recent outperformers. The rupee gained 10 paise to close at 74.94 against the U.S. dollar.

Asian markets remain mostly lower this morning as investors fretted about outlook for the global economy. Gold held above $2,000 an ounce while oil fluctuated.

U.S. stocks rose overnight as investors cheered a surprise quarterly profit from Disney, upbeat service sector activity data and signs of progress in U.S. stimulus talks. Traders largely shrugged off a report showing a substantial slowdown in private sector job growth in July.

The Dow Jones Industrial Average rallied 1.4 percent and the tech-heavy Nasdaq Composite gained half a percent, while the S&P 500 rose 0.6 percent to reach a five-month closing high.

European markets advanced on Wednesday as investors tracked another round of major corporate earnings reports as well as talks on a key U.S. stimulus package.

The pan European Stoxx 600 rose half a percent. The German DAX rose half a percent, France's CAC 40 index climbed 0.9 percent and the U.K.'s FTSE 100 rallied 1.1 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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