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Sensex, Nifty Seen Lower Ahead Of RBI Decision, US CPI Data
(RTTNews) - Indian shares look set to open lower on Thursday as oil prices climbed to seven-month highs, raising concerns surrounding inflation and the interest-rate outlook.
Investors also await U.S. CPI data due out later in the day that might show an acceleration in inflation in July.
Closer home, the RBI's monetary policy committee (MPC) is expected to maintain key rates later today, but the central bank might adopt a far more hawkish tone amid the recent sharp rise in vegetable and pulses prices.
Benchmark indexes Sensex and Nifty reversed early losses to end modestly higher on Wednesday while the rupee rose marginally to close at 82.8150 against the dollar. Asian markets were flat to slightly lower this morning, the dollar index held steady, and gold edged up slightly while oil prices were marginally lower but traded near their highest levels for the year on signs that U.S. fuel demand remains robust.
U.S. stocks ended a choppy session lower overnight as investors awaited key inflation readings that could provide clues to the Fed's monetary policy path.
The Dow dropped half a percent, while the S&P 500 shed 0.7 percent and the tech-heavy Nasdaq Composite lost 1.2 percent to reach their lowest closing levels in a month.
European markets closed on a firm note Wednesday, with China stimulus hopes and some clarification from Italy on the bank windfall tax offering support.
The pan European STOXX 600 edged up 0.4 percent. The German DAX rose half a percent, France's CAC 40 gained 0.7 percent and the U.K.'s FTSE 100 added 0.8 percent.
Asian Shares Rise After Key China Data
Yen Slides Against Majors
China GDP Growth Tops Expectations
European Shares Seen Higher At Open
European Economic News Preview: German ZEW Economic Sentiment Due
Sensex, Nifty Modestly Higher As CPI Inflation Hits 6-year Low
Australian Market Trims Early Gains In Mid-market
