Sensex, Nifty Seen Tad Lower At Open

RTTNews | 664 hari yang lalu

(RTTNews) - Indian shares are seen opening a tad lower on Monday as investors seek direction from the Federal Reserve's interest-rate decision due this week.

The Federal Reserve's highly anticipated monetary policy decision is due on July 26, with economists expecting a 25-bps rate hike.

The accompanying statement and remarks by chairman Jerome Powell would be watched closely for clues about the outlook for rates.

Volatility may remain high due to the impending expiry of monthly derivative contracts on Thursday.

Corporate earnings would continue to remain in focus, with a total of 14 Nifty constituents including Asian Paints and Tata Steel are slated to unveil their quarterly earnings results this week.

Diversified conglomerate Reliance Industries on Friday reported a 11 percent drop in Q1 net profit, missing Street estimates.

Meanwhile, private sector lender ICICI Bank reported a 44 percent jump in quarterly consolidated net profit, helped by healthy growth in core income.

Asian stocks traded mixed this morning, with Chinese and Hong Kong markets slipping into the red as investors tamed down stimulus expectations ahead of this week's Politburo meeting.

Gold was marginally lower and the dollar traded firm while Treasury yields steadied across tenors ahead of the Fed, ECB and BoJ meetings due this week.

Oil prices fell slightly following last week's rally on signs of steady U.S. crude demand and amid bets on more stimulus in major importer China.

U.S. stocks ended a lackluster session narrowly mixed on Friday as a large volume of index and stock options expired.

The Dow Jones Industrial Average edged up marginally to notch its 10th straight day of advance, marking its longest rally in almost six years.

The S&P 500 also ended marginally higher, while the tech-heavy Nasdaq Composite eased 0.2 percent ahead of a rebalance of the Nasdaq 100 index.

European stocks ended Friday's session broadly higher ahead of a busy week of central bank meetings and earnings releases.

The pan European STOXX 600 gained 0.3 percent. The German DAX slipped 0.2 percent, while France's CAC 40 rose 0.7 percent and the U.K.'s FTSE 100 edged up 0.2 percent.

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.

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Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.

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European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.

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Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.

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U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.

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U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.

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U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply

While the Commerce Department released a report on Friday showing a rebound by new residential construction in the U.S. in the month of April, the report also showed a substantial pullback by building permits during the month.

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Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.

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EURUSD	1.11549	GBPUSD	1.32809	AUDUSD	0.64069
USDJPY	145.873	USDCAD	1.39826	USDCHF	0.83882

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Sensex, Nifty Seen Tad Lower At Open