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Market Headstart: Nifty likely to consolidate; investors await RBI MPC decision on rates

Trends on SGX Nifty indicate a negative opening in India, with a 21 points, or 0.18 percent, loss

February 06, 2020 / 09:23 AM IST

Indian market is likely to consolidate on February 6 amid mixed trend seen in other Asian markets. Overnight, US market hit a fresh record peak following encouraging economic data, while investors keep a wary eye on the impact of the coronavirus outbreak.

Trends on SGX Nifty indicate a negative opening in India, with a 21 points, or 0.18 percent, loss. The Nifty futures were trading around 12,078-level on the Singaporean Exchange.

Let’s look at the final tally on D-Street on January 5 – the S&P BSE Sensex rose 353 points to 41,142 while the Nifty50 closed 109 points to close at 12,089.

Sectorally, action was seen in metals, telecom, realty, and capital goods space, while profit taking was visible in power and consumer discretionary.