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Last Updated : Apr 29, 2016 08:05 AM IST | Source: Moneycontrol.com

Nifty may open down tracking global cues; eyes on ICICI Bank

On Thursday, Nifty and Sensex tumbled with the former losing 130 points. Private sector lender ICICI Bank will be reporting its fourth quarter earnings today.


Nifty is likely to open down following a tumble on Dalal Street on Thursday and weak cues from global markets.

SGX Nifty was trading at 7,867 level, down 42 points at 7:48 AM.

On Thursday, Nifty and Sensex tumbled with the former losing 130 points. Private sector lender ICICI Bank will be reporting its fourth quarter earnings today.

In global market, Asian markets opened lower. Bank of Japan disappointed the market, which was were betting on some stimulus.

In US, stocks closed one percent lower as fresh declines in Apple weighed on major indices. The Dow lost close to 1.17 percent. US also reported a its first quarter gross domestic product at 0.5 percent, gwas the slowest pace since first quarter of 2014.

In Europe, stocks finished mixed as markets eyed the rebound in oil prices, after digesting earnings.

In currencies, the yen held on to broad gains, having posted its biggest one-day rally in over five years against the greenback and euro after the Bank of Japan skipped a chance to ease policy.

Dollar index slips following weakness in US economic data.

In commodities, crude prices slipped marginally following high US crude inventories and relentless pumping by major producers.

Gold prices rose to USD 1,270 an ounce led by weakness in the dollar.

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First Published on Apr 29, 2016 08:03 am
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