Sensex, Nifty Set To Extend Losses As Yields Surge

RTTNews | 956 days ago
Sensex, Nifty Set To Extend Losses As Yields Surge

(RTTNews) - Indian shares may open lower on Friday, tracking weak global markets on concerns about the impact the aggressive rate increases will have on the global economy.

After a slew of hawkish central bank decisions, economists now expect the Reserve Bank of India (RBI) to raise the repo rate by 50 basis points next week.

IT stocks may come under increased selling pressure after IT major Accenture forecast first-quarter revenue below estimates, citing reduced IT spending and rising inflation.

Benchmark indexes Sensex and the Nifty fell around half a percent each on Thursday to extend losses for a second day running while the rupee lost 1.1 percent to close at a record low of 80.86 per dollar.

Asian markets fell across the board this morning and headed for a sixth weekly decline, as Treasury yields surged to fresh multi-year highs amid signs of a longer tightening cycle.

A dollar gauge held near a record high and gold fluctuated while oil headed toward a fourth weekly loss.

U.S. stocks ended lower for a third straight session overnight as investors fretted about the possibility of a recession and further volatility in stock and bond markets.

The Dow shed 0.4 percent and the S&P 500 gave up 0.8 percent to hit three-month closing lows, while the tech-heavy Nasdaq Composite fell 1.4 percent to its lowest closing level in well over two months.

European stocks slumped on Thursday as the Swiss National bank, the Norges Bank and the Bank of England all raised rates and a measure of Eurozone consumer confidence declined in September.

The pan European Stoxx 600 fell 1.8 percent. The German DAX lost 1.8 percent, France's CAC 40 index tumbled 1.9 percent and the U.K.'s FTSE 100 declined 1.1 percent.

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Thai Stock Market Due For Consolidation On Tuesday

Thai Stock Market Due For Consolidation On Tuesday

Ahead of Monday's holiday for Coronation Day, the Thai stock market had moved higher in five straight sessions, gathering more than 50 points or 4.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,200-point plateau although it's expected to open in the red on Tuesday.
RTTNews | 24 minutes ago
Indonesia Shares Due For Profit Taking On Tuesday

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Australian Market Modestly Lower

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RTTNews | 1h 9min ago
Hong Kong Bourse May Spin Its Wheels On Tuesday

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Ahead of Monday's holiday for the buddha's birthday, the Hong Kong stock market had finished higher in three straight sessions, collecting almost 550 points or 2.4 percent along the way. The Hang Seng Index now sits just above the 22,500-point plateau although the rally may stall on Tuesday.
RTTNews | 1h 24min ago
China Shares May Return To The Downside

China Shares May Return To The Downside

Ahead of the long holiday weekend, the China stock market had finished lower in four straight sessions, sliding more than 20 points or 0.7 percent along the way. The Shanghai Composite Index now sits just beneath the 3,280-point plateau and it may open under pressure again on Tuesday.
RTTNews | 1h 54min ago
Continued Consolidation Called For Taiwan Stock Market

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The Taiwan stock market on Monday snapped the five-day winning streak in which it had surged more than 1,300 points or 6.4 percent. The Taiwan Stock Exchange now sits just above the 20,530-point plateau and it may take further damage on Tuesday.
RTTNews | 2h 24min ago
Rally May Stall For Singapore Stock Market

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The Singapore stock market has moved higher in three straight sessions, advancing almost 50 points or 1.3 percent along the way. The Straits Times Index now sits just above the 3,850-point plateau although it may run out of steam on Tuesday.
RTTNews | 2h 54min ago
Malaysia Bourse May Extend Monday's Losses

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The Malaysia stock market on Monday snapped the two-day winning streak in which it had collected more than 25 points or 1.6 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,540-point plateau and the losses may accelerate on Tuesday.
RTTNews | 3h 24min ago