Sensex, Nifty Likely To Open Lower Today

On Thursday, the Sensex had risen 109.56 points to end at a record closing high of 41,130.17 and the Nifty settled at a record 12,151.15.

Sensex, Nifty Likely To Open Lower Today

The Sensex and Nifty have logged record closing highs for two consecutive sessions

Domestic stock markets are likely to start Friday's session on a negative note, ahead of the release of key macroeconomic data by the government. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - declined as much as 21 points 12,165.00 before the opening of Indian equity markets. At 8:30 am, the SGX Nifty futures were down 19.00 points - or 0.16 per cent - at 12,167.00.

Equities in other Asian markets moved lower on Thursday amid renewed concerns about global growth and the US-China trade conflict. MSCI's broadest index of Asia Pacific shares outside Japan was last down 1.03 per cent, and Japan's Nikkei 225 index was down 0.13 per cent.

A four-day rally that had lifted world stocks to near-record highs stalled on Thursday after China said it would retaliate for US legislation backing Hong Kong's protesters, leaving investors concerned as to the extent of the Chinese response.

Fading hopes of a rapprochement between the world's two biggest economies before additional, potentially damaging tariff hikes kick in has lowered risk appetite.

On Thursday, the S&P BSE Sensex index had risen 109.56 points (0.27 per cent) to end at a record closing high of 41,130.17, and the broader NSE Nifty benchmark settled at a record 12,151.15, up 50.45 points (0.42 per cent) from the previous close.

The government will release data on gross domestic product (GDP) expansion for the quarter ended September 30 at 5:30 pm.

Economists in a poll conducted by news agency Reuters expect the economy to register a growth of 4.7 per cent in the quarter. If that prediction comes true, it would mark the slowest pace of economic expansion since March 2013.

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