Sensex, Nifty Seen Opening Flat Ahead Of RBI Decision
(RTTNews) - Indian shares are seen opening on a flat note Friday, tracking muted cues from global markets and ahead of the RBI's MPC rate decision due to be announced later in the day.
Economists expect RBI governor Shaktikanta Das to pause the repo rate for the fourth-consecutive policy meeting after aggressive rate hikes by 250 basis points cumulatively from May last year until February 2023.
Benchmark indexes Sensex and Nifty rose around 0.6 percent each on Thursday as the dollar and bond yields eased after the release of weak U.S. economic data. The rupee ended flat at 83.25 against the dollar.
Asian stocks were struggling for direction this morning and gold edged higher on dollar weakness while oil prices rose slightly after two days of heavy losses on demand woes.
U.S. stocks ended marginally lower overnight as investors awaited the September employment report for clues on the economic and rate outlook.
Treasuries extended a pullback after data showed weekly jobless claims rose slightly last week.
European stocks ended mostly higher on Thursday despite a raft of weak data points.
The pan European STOXX 600 gained 0.3 percent. The German DAX slipped 0.2 percent, while France's CAC 40 edged up marginally and the U.K.'s FTSE 100 rose half a percent.
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