Sensex, Nifty Set To Extend Losses As Yields Surge

RTTNews | 972 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.

read more
U.S. Dollar Firms On Deficit Concerns

U.S. Dollar Firms On Deficit Concerns

The U.S. dollar was higher against its most major counterparts in the New York session on Thursday, as treasury yields soared amid concerns about the fiscal impact of President Donald Trump's tax bill.
RTTNews | 2h 33min ago
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

After opening modestly down, the Switzerland market kept sliding on Thursday, and despite recovering some lost ground past mid afternoon, ended the day's session on a weak note. Concerns about U.S. debt, and continued uncertainty about tariff negotiations rendered the mood cautious.
RTTNews | 3h 38min ago
Canadian Market Up Marginally At Noon In Cautious Trade

Canadian Market Up Marginally At Noon In Cautious Trade

After opening slightly up, the Canadian market slipped into negative territory Thursday morning, but edged up a bit subsequently in cautious trade, with a few stocks from technology and financials sectors posting solid gains.
RTTNews | 5h 14min ago
U.S. Existing Home Sales Unexpectedly See Further Downside In April

U.S. Existing Home Sales Unexpectedly See Further Downside In April

Existing home sales in the U.S. unexpectedly saw further downside in the month of April, according to a report released by the National Association of Realtors on Thursday. NAR said existing home sales fell by 0.5 percent to an annual rate of 4.00 million in April after plunging by 5.9 percent to a rate of 4.02 million in March.
RTTNews | 6h 45min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Down To 227,000

U.S. Weekly Jobless Claims Unexpectedly Edge Down To 227,000

A report released by the Labor Department on Thursday unexpectedly showed a slight decline by first-time claims for U.S. unemployment benefits in the week ended May 17th. The Labor Department said initial jobless claims edged down to 227,000, a decrease of 2,000 from the previous week's unrevised level of 229,000. The dip surprised economists, who had expected jobless claims to inch up to 230,000.
RTTNews | 7h 41min ago