Sensex, Nifty Seen Opening On Flat Note

RTTNews | 566 days ago
Sensex, Nifty Seen Opening On Flat Note

(RTTNews) - Indian shares look set to open on a flat note Thursday as investors react to muted global cues, falling oil prices and a slight uptick in U.S. Treasury yields on expectations that U.S. inflation will remain high.

Benchmark indexes Sensex and Nifty ended Wednesday' session marginally higher while the rupee fell by 3 paise to close at 83.31 against the dollar.

Foreign institutional investors net sold shares worth Rs 306.56 crore on Wednesday, while domestic institutional investors bought shares worth Rs 721.24 crore, according to provisional data from NSE.

Asian stocks were mixed in range-bound trade this morning, with Japanese markets closed for a holiday.

China's property sector remained in focus as Shenzhen rolled out two new homebuying measures and the government placed Country Garden Holdings Co. and Sino-Ocean Group on a draft list of 50 developers eligible for a range of financing support.

The dollar lost some ground in Asian trading after rising on Wednesday. Gold nudged higher but traded below the crucial $2,000 per ounce level.

Oil extended loses, after having fallen nearly 1 percent on Wednesday on data showing a substantial build in U.S. crude stocks and news that the OPEC+ group of oil producing countries would delay a meeting to discuss output cuts.

U.S. stocks ended slightly higher overnight ahead of the Thanksgiving holiday. A spate of economic data, including jobless claims, durable goods, and consumer sentiment, suggested that the economy is softening but is still resilient enough to potentially avoid recession as the Federal Reserve prefers.

The Dow and the tech-heavy Nasdaq Composite both gained around half a percent while the S&P 500 inched up 0.4 percent.

European stocks mostly rose on Wednesday amid dovish Fed expectations, easing Middle East tensions and talk of early U.K. election. The pan European STOXX 600 inched up 0.3 percent.

The German DAX and France's CAC 40 both rose about 0.4 percent while the U.K.'s FTSE 100 eased 0.2 percent after the government cut taxes in the Autumn statement.

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