Sensex, Nifty May See Modest Gains At Open
(RTTNews) - Indian shares may see modest gains at open on Friday as new economic data from the U.S. fueled hopes that the U.S. central bank will cut interest rates in the coming months.
As inflation worries ebb, investors now await the U.S. personal consumption expenditures (PCE) report later in the day for further direction.
Benchmark indexes Sensex and Nifty rose around half a percent each on Thursday after falling sharply the previous day.
Asian markets traded mixed this morning and gold held near three-week highs on falling Treasury yields, while oil is set for another weekly gain due to nervousness about the security of Red Sea shipping. Meanwhile, Angola's exit from OPEC put the spotlight on the group's unity.
U.S. stocks rose notably overnight, a day after the major indexes suffered their worst daily sell-off in months.
Investors digested a wave of data showing lower-than-expected GDP growth in the third quarter, downward revisions to both headline and core PCE inflation, historically low jobless claims and weakening regional business activity.
The Dow gained 0.9 percent, the tech-heavy Nasdaq Composite surged 1.3 percent and the S&P 500 rallied 1 percent.
European stocks closed lower on Thursday after two days of gains.
The pan European STOXX 600 eased 0.2 percent. The German DAX and the U.K.'s FTSE 100 both dipped around 0.3 percent while France's CAC 40 slipped 0.2 percent.
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