Sensex, Nifty Seen Opening Up Amid Global Market Rally

RTTNews | 552 일 전
Sensex, Nifty Seen Opening Up Amid Global Market Rally

(RTTNews) - Indian shares are seen opening on a positive note Friday, fueled by a global rally in equities powered by growth and technology stocks.

The Reserve Bank of India (RBI) released the minutes of the Monetary Policy Committee (MPC) meeting on Thursday, which showed that members were cautious on inflation prints due to uncertainty in food prices.

Benchmark indexes Sensex and Nifty jumped around 0.7 percent each on Thursday while the rupee gained 13 paise to close at 82.83 against the dollar.

Asian markets were seeing modest gains in cautious trade this morning after data showed new home prices in 70 of China's major cities fell at a faster pace year-on-year in January.

The dollar dipped and gold ticked higher as Federal Reserve Governor Christopher Waller called for a cautious approach towards interest rate cuts, adding he expects reductions to begin later this year.

Oil was little changed and remained on course for a weekly loss on demand concerns.

U.S. stocks notched record highs overnight after artificial intelligence darling Nvidia reported better than expected fourth quarter results and provided upbeat revenue guidance.

In economic releases, weekly jobless claims unexpectedly fell last week while sales of previously owned homes rose in January, separate reports showed.

The Dow and the S&P 500 gained 1.2 percent and 2.1 percent, respectively to reach new record closing highs while the tech-heavy Nasdaq Composite jumped 3 percent to end the day just shy of its November 2021 levels.

European stocks closed higher on Thursday as investors digested the latest batch of earnings and the minutes of the ECB's January meeting showing reluctance to discuss rate cuts.

The pan European STOXX 600 advanced 0.8 percent, surpassing its previous record close on Jan. 5, 2022.

The German DAX surged 1.5 percent, France's CAC 40 added 1.3 percent and the U.K.'s FTSE 100 rose 0.3 percent.

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