Sensex, Nifty Set To Extend Losses On Trade Deal Uncertainty

RTTNews | il y a 7

(RTTNews) - Indian shares are seen opening lower on Tuesday after several European leaders voiced concerns over the EU-U.S. trade deal, calling it 'lopsided' and 'unsustainable'.

Closer home, market watchers firmly believe that a mini or an interim trade deal between the United States and India is unlikely ahead of the U.S. tariff deadline set to take effect later this week.

There's considerable uncertainty over whether India will face higher tariffs from August or if U.S. President Donald Trump will extend the deadline once more.

Benchmark indexes Sensex and Nifty fell around 0.7 percent and 0.6 percent respectively on Monday after weak earnings from Kotak Mahindra Bank and TCS' layoff announcement. The rupee settled 15 paise lower at 86.66 against the U.S. dollar.

Foreign Portfolio Investors offloaded shares worth Rs 6,082 crore on a net basis Monday, while domestic institutional investors net bought shares to the extent of Rs 6,765 crore, according to provisional NSE data.

This is the highest net selling by FIIs since May 30 and highest net buying by DIIs since June 17.

Asian markets were subdued this morning as investors await the outcome of the U.S.-China trade talks.

The dollar index held on to gains ahead of the Fed and BoJ meetings this week while oil slipped after rising 2 percent on Monday as U.S. President Trump pushed for Russia to reach a swift truce with Ukraine or face potential economic penalties.

Gold edged up slightly after declining notably on Monday amid trade-deal hopes. U.S. stocks ended mixed overnight as traders' enthusiasm for the U.S.-EU deal was muted.

The tech-heavy Nasdaq Composite rose 0.3 percent and the S&P 500 edged up marginally to reach new record closing highs while the narrower Dow slid 0.1 percent.

European stocks ended mostly lower on Monday as the EU-U.S. trade deal met with gloomy reactions from many European leaders, with Germany and France slamming the draft trade agreement as unequal and damaging.

The pan European STOXX 600 eased 0.2 percent. The German DAX lost 1 percent while the U.K.'s FTSE 100 and France's CAC 40 both fell by 0.4 percent.

TSX Up More Than 2% On All-round Buying As Investors Bet On Fed Rate Cut Hopes

The Canadian market is up sharply on Tuesday with traders picking up stocks across the board, betting on hopes of an interest rate cut by the Federal Reserve next month.

RTTNews | il y a 1h 54min

Swiss Market Ends Modestly Higher

The Switzerland market closed modestly higher on Tuesday after staying positive right through the day's trading session, with investors mostly reacting to the latest quarterly performance of big name companies.

RTTNews | il y a 2h 27min

European Stocks Close Broadly Higher

European markets closed mostly higher on Tuesday, although gains in most of the markets were just marginal or modest, as investors stayed somewhat cautious, reacting to a mixed batch of economic data, and assessing the impact of steep U.S. tariffs on the global economy.

RTTNews | il y a 2h 47min

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.

RTTNews | il y a 5h 25min

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

RTTNews | il y a 6h 11min

U.S. Trade Deficit Narrows Slightly More Than Expected In June

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

RTTNews | il y a 7h 15min

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | il y a 7h 18min

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.

RTTNews | il y a 7h 29min

EURUSD	1.15736	GBPUSD	1.32952	AUDUSD	0.64688
USDJPY	147.611	USDCAD	1.37819	USDCHF	0.80734

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Sensex, Nifty Set To Extend Losses On Trade Deal Uncertainty