Sensex, Nifty Seen Up After Wall Street Rally

RTTNews | 1120 days ago
Sensex, Nifty Seen Up After Wall Street Rally

(RTTNews) - Indian shares are seen opening higher on Thursday, mirroring firm cues from global markets after the U.S. Federal Reserve escalated its battle against inflation.

Telecom stocks may come under selling pressure after the Union Cabinet left the reserve price of 5G airwaves unchanged.

Benchmark indexes Sensex and the Nifty ended down about 0.3 percent each on Wednesday, extending losses for a fourth straight session. The rupee plunged 18 paise to close at a record low of 78.22 against the greenback.

Asian markets advanced this morning, the dollar retreated from a 20-year high and Treasury yields eased while gold traded flat after rising in the previous session.

Oil prices recovered some ground after a steep drop in the previous session.

U.S. stocks rallied overnight as the Fed intensified its drive to tame high inflation through interest-rate increases and balance sheet reduction.

After raising the target interest rate by 75 basis points - the biggest increase since 1994 - and cutting growth projection, the Fed suggested that "unusually large" moves of that scale likely wouldn't become common.

Fed Chair Jerome Powell said he expected either a 0.50 percentage point or 0.75 percentage point increase at the Fed's July meeting.

The S&P 500 added 1.5 percent to snap a five-day losing streak despite weak retail sales, New York factory activity and housing data. The Dow gained 1 percent and the tech-heavy Nasdaq Composite climbed 2.5 percent.

European stocks snapped their six-day losing streak on Wednesday as the European Central Bank proposed to create a new tool aimed at shielding weaker eurozone economies from higher borrowing costs.

The pan European Stoxx 600 jumped 1.4 percent. The German DAX and France's CAC 40 index both climbed around 1.4 percent while the U.K.'s FTSE 100 advanced 1.2 percent.

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Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | 1h 24min ago
European Shares Set To Open Higher Despite Rising Trade Tensions

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RTTNews | 2h 21min ago
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RTTNews | 2h 41min ago
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Indian shares were subdued on Thursday as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 3h 33min ago
Australian Market Extends Early Gains In Mid-market

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The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across all sectors led by technology and mining stocks.
RTTNews | 4h 30min ago
Asian Markets Track Wall Street Higher

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Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders are optimistic about an end to the tariff uncertainty after US President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition.
RTTNews | 4h 35min ago
Sensex, Nifty Set For Muted Open

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Indian shares look set to open on a flat note Thursday as investors watch the latest developments on the trade front, react to the latest FOMC meeting minutes and look for direction from Q1 business updates from prominent companies.
RTTNews | 5h 22min ago
Indonesia Stock Market May Extend Winning Streak

Indonesia Stock Market May Extend Winning Streak

The Indonesia stock market has moved higher in three straight sessions, gathering almost 80 points or 1.2 percent along the way. The Jakarta Composite Index now sits just above the 6,940-point plateau and it may add to its winnings again on Thursday.
RTTNews | 6h 22min ago