Sensex, Nifty To Drift Lower At Open On Weak Global Cues; F&O Expiry Eyed

RTTNews | 852 hari yang lalu
Sensex, Nifty To Drift Lower At Open On Weak Global Cues; F&O Expiry Eyed

(RTTNews) - Indian shares may open lower on Thursday, tracking weak cues from global markets. Falling oil prices and the passage of a Republican plan to raise the debt ceiling by the U.S. House of Representatives may offer some respite for investors worried about elevated inflation and the possibility of further monetary policy tightening.

Trading may turn volatile later in the day due to the expiry of April month derivative contracts.

ACC, Axis Bank, Bajaj FinServ, Hindustan Unilever, LTI Mindtree, Tech Mahindra and Wipro are among the prominent companies due to report their earnings results today.

Benchmark indexes Sensex and Nifty recovered from an early slide to close up around 0.3 percent each on Wednesday while the rupee gained 21 paise to close at 81.74 against the dollar.

Asian markets traded lower for a fifth day running as investors await U.S. GDP data later in the day for hints on when the Federal Reserve might consider pausing interest rate rises.

Gold inched up on dollar weakness, with the euro holding near a one-year high versus the greenback.

Oil prices edged up slightly after dropping by almost 4 percent in the U.S. trading session overnight on recession fears and signs of increased Russian oil exports.

U.S. stocks ended mixed overnight while the dollar dipped, as investors weighed upbeat tech earnings against ongoing turmoil in the regional banking sector and congressional wrangling over raising the federal debt ceiling.

New data showed that orders for core capital goods fell more than expected in March, adding to recession worries.

The tech-heavy Nasdaq Composite bounced off its lowest closing level in almost a month to close half a percent higher, while the Dow dropped 0.7 percent and the S&P 500 shed 0.4 percent.

European stocks closed Wednesday's session lower amid lingering concerns about high interest rates and a potential U.S. recession later this year.

The pan European STOXX 600 declined 0.8 percent. The German DAX and the U.K.'s FTSE 100 both fell by half a percent while France's CAC 40 index gave up 0.9 percent.

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