Sensex, Nifty Likely To Open On Cautious Note

RTTNews | 64 days ago
Sensex, Nifty Likely To Open On Cautious Note

(RTTNews) - Indian shares look set to open on a cautious note Thursday as Pakistan troops continue to resort to cross-border shelling along the Line of Control (LoC) in Kupwara district of Jammu and Kashmir for the second consecutive day.

On Wednesday, at least 12 civilians, including three women and three children, were killed, and 51 others injured as the Pakistan Army resorted to heavy mortar shelling and firing on villages in four districts closed to the LoC.

Benchmark indexes Sensex and Nifty ended marginally higher on Wednesday despite rising tensions with Pakistan. However, the rupee saw its steepest fall in nearly a month, closing at 84.83 per dollar.

Asian markets were moving in a tight range this morning as the U.S. Federal Reserve warned of economic uncertainty.

U.S. President Donald Trump has teased a trade deal announcement with representatives of a big and highly respected country, while clarifying that the 145 percent tariffs on most imports from China will remain in place "for now'.

Separately, U.S. Treasury Secretary Scott Bessent said that talks with China on Saturday are a beginning for talks, not advanced discussions.

The U.S. dollar held steady against the euro following its biggest rise in two weeks a day earlier. Gold ticked higher while oil recovered some ground after ending lower in the previous session.

U.S. stocks eked out modest gains overnight after two days of losses. The Dow climbed 0.7 percent, the S&P 500 added 0.4 percent and the tech-heavy Nasdaq Composite rose 0.3 percent as the Federal Reserve left interest rates unchanged, as widely expected, and reports suggested the Trump administration plans to revise AI chip export curbs. Fed Chair Jerome Powell, who has been on the receiving end of severe criticism from President Trump for not cutting rates, emphasized that the mandate of resolving the uncertainties around tariffs, inflation and unemployment lies with the White House, and the central bank will change policy stance only when there is more clarity on the direction of the economy.

European stocks closed on a weak note Wednesday despite optimism surrounding upcoming U.S.-China trade talks and China's new stimulus measures.

The pan European STOXX 600 dropped half a percent. The German DAX shed 0.6 percent, France's CAC 40 gave up 0.9 percent and the U.K.'s FTSE 100 dipped 0.4 percent.

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