Sensex, Nifty Seen Higher As China Cuts Lending Rate

(RTTNews) - Indian shares look set to open higher on Thursday, with a fall in coronavirus cases and expectations of more Chinese stimulus likely to underpin investor sentiment.

China's central Hubei province reported 349 new confirmed cases on Wednesday, down from 1,693 a day earlier and the lowest since Jan. 25. The death toll rose by 108, down from 132 the previous day.

Earlier today, China's central bank cut the benchmark lending rate by 10 basis points in a move intended to lower financing costs for businesses and support an economy hit by a fast-spreading coronavirus epidemic.

The COVID-19 outbreak will have a limited impact on India, though global GDP and trade will definitely be affected due to the large size of the Chinese economy, RBI Governor Shaktikanta Das said.

Only a few sectors in India are likely to see disruptions and alternatives are being explored to overcome those issues, he added.
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