Sensex, Nifty Seen Opening Flat To Lower On Weak Asian Cues

RTTNews | 957 days ago
Sensex, Nifty Seen Opening Flat To Lower On Weak Asian Cues

(RTTNews) - Indian shares look set to open on a cautious note Friday, tracking sluggish cues from other Asian markets as the International Monetary Fund (IMF) cut Asia's economic forecasts, saying China's economic slowdown will weigh on the region's growth.

Investors were also reacting to mixed earnings updates from Apple, Amazon and Intel released after the U.S. market close.

Closer home, the Reserve Bank of India said it would hold a special meeting of its rate-setting committee on 3 November to prepare a report for the government on why it failed to keep retail inflation below the target of 6 percent for three consecutive quarters since January.

Benchmark indexes Sensex and the Nifty ended a choppy session up around half a percent each on Thursday while the rupee rose by 34 paise to close at 82.47 against the greenback.

The dollar climbed, making greenback-priced commodities more expensive for holders of other currencies.

Gold held steady and headed for a second week of gains. Oil prices fell in Asian trade but headed for a weekly gain on supply concerns.

U.S. stocks ended mixed overnight and bond yields dipped, as GDP figures surprised to the upside but also offered some evidence of a healthy slowdown that could have a positive impact on fighting inflation.

The Dow rose 0.6 percent to extend gains for the fifth straight session and reach its highest closing level in well over a month, while the tech-heavy Nasdaq Composite fell 1.6 percent after Meta's quarterly miss and the S&P 500 shed 0.6 percent.

Data showed the U.S. economy grew 2.6 percent in the third quarter following two straight quarters of contractions.

European stocks recouped losses to end mixed on Thursday after the European Central Bank raised interest rates by 75 basis points, as widely expected, and hinted at a slower pace of future increases amid mounting concerns about economic growth.

The pan European STOXX 600 ended flat with a negative bias. The German DAX inched up 0.1 percent and the U.K.'s FTSE 100 added 0.3 percent while France's CAC 40 index dropped half a percent.

read more
Asian Shares Climb On Trade Talk Optimism

Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
RTTNews | 44 minutes ago
Commodity Currencies Slide Amid Crude Oil Price Drop

Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
RTTNews | 1h 11min ago
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 4h 53min ago
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 5h 54min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 6h 19min ago
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 6h 48min ago