Sensex, Nifty To Open On Cautious Note On Weak Global Cues

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Sensex, Nifty To Open On Cautious Note On Weak Global Cues

(RTTNews) - Indian shares are seen opening flat to slightly lower on Thursday amidst negative global cues as stronger-than-expected U.S. services sector data fueled concerns that U.S. interest rates may stay higher for longer.

Benchmark indexes Sensex and Nifty finished marginally higher on Wednesday to extend gains for a fourth consecutive session.

The rupee fell by 10 paise to close at a record low of 83.14 against the dollar as the greenback hit a six-month high and crude oil prices neared $90 a barrel.

Asian markets were mostly lower this morning ahead of China's trade figures, due out later in the day.

A buoyant dollar pushed the Japanese yen to a 10-month trough, while oil steadied after the longest winning run in more than four years.

U.S. stocks ended lower overnight as rising oil prices revived inflation fears and Boston Fed President Susan Collins warned that more policy tightening could be warranted.

In economic releases, activity in the U.S. services sector rose unexpectedly in August while the Fed's Beige Book showed economic growth was modest during July and August.

The tech-heavy Nasdaq Composite lost 1.1 percent, the S&P 500 fell 0.7 percent and the Dow dropped 0.6 percent.

European stocks fell for a sixth consecutive session on Wednesday on concerns about elevated inflation and slowing global growth. Weak German factory orders data also weighed.

The pan-European STOXX 600 dropped 0.6 percent to reach its lowest level in over a week.

The German DAX and the U.K.'s FTSE 100 both slipped around 0.2 percent while France's CAC 40 shed 0.8 percent.

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Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

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The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
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Higher Open Expected For Hong Kong Shares

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Taiwan Shares Tipped To Open In The Green On Wednesday

The Taiwan stock market has moved higher in back-to-back sessions, accelerating more than 580 points or 2.6 percent along the way. The Taiwan Stock Exchange now sits just above the 22,240-point plateau and it has a positive lead again for Wednesday's trade.
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Producer prices in Japan were down 0.2 percent on month in May, the Bank of Japan said on Wednesday.
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Singapore Shares May Reverse Tuesday's Losses

Singapore Shares May Reverse Tuesday's Losses

The Singapore stock market on Tuesday halted the five-day winning streak in which it had collected more than 40 points or 1 percent. The Straits Times Index now sits just beneath the 3,935-point plateau although it may bounce higher again on Wednesday.
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