Benchmark indices BSE Sensex and NSE's Nifty 50 are likely to open higher on Friday after Reserve Bank of India governor Shaktikanta Das said there is room for more rate cuts. Moreover, hopes of a GST rate cut today to boost the ailing economy also support the shares.
On the global markets front, Asian share prices inched higher on Friday as economic stimulus around the world eased fears of economic deceleration while crude oil prices climbed on concerns that last weekend's attacks on Saudi Arabia's oil facilities still pose supply risks.
On Thursday, the Sensex ended 470.41 points lower at 36,093.47, while the broader Nifty50 index lost 135.85 points to end the day at 10,704.80.
At 7:56 am, the SGX Nifty futures traded higher by 0.20 percent, or 21 points, at 10,725.50, indicating a positive start for the Sensex and the Nifty.
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