Sensex, Nifty May Struggle In Directionless Trade

RTTNews | vor 83 Tagen

(RTTNews) - Indian shares may struggle to find footing on Friday after recent string of gains and amid jitters in the run-up to an increase of U.S. tariffs that will come into force on April 2.

Dampening prospects of a concession, U.S. President Donald Trump said Thursday India will face reciprocal tariffs, a move likely to hurt India's exports of agricultural and pharmaceutical goods.

"I have a very good relationship with India, but the only problem I have with India is that they are one of the highest tariffing nations in the world. I believe they are probably going to be lowering those tariffs substantially, but on April 2, we will be charging them the same tariffs they charge us," Trump said in an interview with U.S.-based Breitbart News.

Domestic markets remain sensitive to sentiment shifts despite FIIs turning net buyers in Indian equities for the first time in months.

Benchmark indexes Sensex and Nifty jumped around 1.2 percent each on Thursday to extend gains for a fourth straight session, while the rupee gained 1 paise to close at 86.36 against the dollar.

Asian markets were muted this morning while the dollar stood tall, pushing gold prices lower.

Oil prices were set for a second weekly gain after the U.S. sanctioned a Chinese refinery for the first time, in a marked step-up of measures to curb supply from Iran.

Also, a new OPEC+ plan announced Thursday for seven members to cut output raised bets on tightening supply.

U.S. stocks fluctuated before closing modestly lower overnight on fears over President Trump's tariffs and signs of escalating geopolitical tensions, following reports of Israeli airstrikes on Gaza and a huge blast triggered by a Ukrainian drone attack on a Russian airfield.

Jobless claims held steady last week and there was an unexpected increase in existing home sales, helping calm concerns about an economic slowdown.

The tech-heavy Nasdaq Composite slipped 0.3 percent and the S&P 500 eased 0.2 percent while the narrower Dow ended little changed.

European stocks ended a four-day winning streak on Thursday as investors digested a slew of policy announcements from central banks, including the U.S. Federal Reserve and the Bank of England.

The pan European STOXX 600 dropped 0.4 percent. The German DAX lost 1.2 percent, France's CAC 40 fell 1 percent and the U.K.'s FTSE 100 finished marginally lower.

New Zealand Card Retail Sales Data Due On Thursday

New Zealand will on Thursday release May figures for electronic card retail sales, highlighting a light day for Asia-Pacific economic activity. In April, sales were flat on month and down 0.3 percent on year.

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U.S. Dollar Declines After Softer-than-expected Inflation Data

The U.S. dollar dropped against its major counterparts in the New York session on Wednesday, as the consumer price index came in softer than expected in May.

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Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory. Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.

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European Stocks Pare Early Gains, Close Mostly Lower

Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.

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TSX Hits Fresh Record High; Technology, Consumer Discretionary Stocks Shine

The Canadian market is modestly higher a little past noon on Wednesday, after hitting a fresh record high earlier in the session, amid easing Sino-US trade tensions, somewhat tame U.S. consumer price inflation data, and higher crude oil prices.

RTTNews | vor 5Std 59 Minuten

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.

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U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.

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Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.

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EURUSD	1.14942	GBPUSD	1.35558	AUDUSD	0.6506
USDJPY	144.409	USDCAD	1.36676	USDCHF	0.81945

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Sensex, Nifty May Struggle In Directionless Trade