Indian shares are set for a strong start on Friday supported by gains in the global markets after comments by a US Federal Reserve official raised prospects of a rate cut by the central bank.
The BSE Sensex and NSE’s Nifty 50 settled nearly 1 percent lower in the previous session dragged by banking stocks after Yes Bank’s poor Q1 results. The 30-share benchmark Sensex settled 318 points lower, or 0.81 percent, at 38,897. The broader 50-share NSE index ended lower at 11,597, down by 90 points, or 0.78 percent.
At 7.00 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 42 points, or 0.36 percent, higher at 11,644, indicating a positive start for the Sensex and the Nifty 50.
Stocks to watch: IndiGo, ACC, Jet Airways in focus. Click here to know more.
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