Sensex, Nifty Seen Tad Lower As Oil Rally Continues

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(RTTNews) - Indian shares look set to open a tad lower on Wednesday as global growth concerns returned to the fore.

The World Bank on Tuesday cut India's growth forecast for 2023-24 to 6.3 percent from its December estimate of 6.6 percent, citing global headwinds.

The Asian Development Bank (ADB) also said that India's economy would grow at a slower-than-expected 6.4 percent this year.

The Reserve Bank of India (RBI) will deliver its monetary policy outcome on Thursday, with analysts expecting a 25-bps repo rate hike.

Energy stocks would be in focus today after the government cut the windfall tax on selling domestic crude oil and halved the export levy on diesel.

Indian stock markets were closed on Tuesday for Mahavir Jayanti. Benchmark indexes Sensex and Nifty rose around 0.2 percent each on Monday while the rupee fell by 10 paise to close at 82.31 against the dollar.

Asian markets struggled for direction this morning after JPMorgan Chase & Co.'s chief Jamie Dimon warned the U.S. banking crisis is ongoing and will have effects for years to come.

The dollar held near two-month lows as new data indicated that the softening in the U.S. labor market is gaining momentum.

Gold hovered near record highs seen in 2020 while oil extended gains for a fifth consecutive session.

U.S. stocks declined overnight as oil prices continued to surge and data showed job openings fell dramatically to a two-year low in February, raising worries about the economic outlook.

A separate report showed new orders for U.S. manufactured goods fell for a second straight month in February.

The Dow and the S&P 500 both slipped around 0.6 percent to snap a four-day winning streak while the tech-heavy Nasdaq Composite shed half a percent.

European stocks ended on a subdued note Tuesday as investors weighed the likely impact of rising oil prices on monetary policy and global growth.

The pan European STOXX 600 finished marginally lower. The German DAX inched up 0.1 percent while France's CAC 40 index closed flat with a negative bias and the U.K.'s FTSE 100 dropped half a percent.

Canadian Market Looks Headed For Another Positive Close

The Canadian market is firmly placed in positive territory Thursday afternoon, thanks largely to a fine performance by several technology stocks, and a few frontline stocks from consumer discretionary, real estate, communications and financials sectors.

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Swiss Market Closes On Buoyant Note

The Switzerland market closed on a strong note on Thursday, in line with most of the markets across Europe, amid rising expectations of a rate cut by the Federal Reserve, and easing concerns about tariffs.

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European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data

European stocks closed mostly higher on Thursday, with most of the markets in the region gaining for a second straight day amid cooling bond markets. Still, the mood in the markets remained a bit cautious with investors looking ahead to crucial U.S. non-farm payroll data on Friday.

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U.S. Services Index Climbs To Six-Month High In August

Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.

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U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated

A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.

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U.S. Trade Deficit Widens More Than Expected As Imports Spike

With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.

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U.S. Jobless Claims Rise More Than Expected To Two-Month High

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th. The Labor Department said initial jobless claims climbed to 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000.

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U.S. Private Sector Job Growth Slows More Than Expected In August

A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by less than expected in the month of August. ADP said private sector employment rose by 54,000 jobs in August after jumping by an upwardly revised 106,000 jobs in July. Economists had expected private sector employment to rise by 65,000 jobs.

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EURUSD	1.16455	GBPUSD	1.34285	AUDUSD	0.65145
USDJPY	148.552	USDCAD	1.38264	USDCHF	0.8057