Sensex, Nifty Seen Tad Lower As Oil Rally Continues

RTTNews | 850 dias atrás

(RTTNews) - Indian shares look set to open a tad lower on Wednesday as global growth concerns returned to the fore.

The World Bank on Tuesday cut India's growth forecast for 2023-24 to 6.3 percent from its December estimate of 6.6 percent, citing global headwinds.

The Asian Development Bank (ADB) also said that India's economy would grow at a slower-than-expected 6.4 percent this year.

The Reserve Bank of India (RBI) will deliver its monetary policy outcome on Thursday, with analysts expecting a 25-bps repo rate hike.

Energy stocks would be in focus today after the government cut the windfall tax on selling domestic crude oil and halved the export levy on diesel.

Indian stock markets were closed on Tuesday for Mahavir Jayanti. Benchmark indexes Sensex and Nifty rose around 0.2 percent each on Monday while the rupee fell by 10 paise to close at 82.31 against the dollar.

Asian markets struggled for direction this morning after JPMorgan Chase & Co.'s chief Jamie Dimon warned the U.S. banking crisis is ongoing and will have effects for years to come.

The dollar held near two-month lows as new data indicated that the softening in the U.S. labor market is gaining momentum.

Gold hovered near record highs seen in 2020 while oil extended gains for a fifth consecutive session.

U.S. stocks declined overnight as oil prices continued to surge and data showed job openings fell dramatically to a two-year low in February, raising worries about the economic outlook.

A separate report showed new orders for U.S. manufactured goods fell for a second straight month in February.

The Dow and the S&P 500 both slipped around 0.6 percent to snap a four-day winning streak while the tech-heavy Nasdaq Composite shed half a percent.

European stocks ended on a subdued note Tuesday as investors weighed the likely impact of rising oil prices on monetary policy and global growth.

The pan European STOXX 600 finished marginally lower. The German DAX inched up 0.1 percent while France's CAC 40 index closed flat with a negative bias and the U.K.'s FTSE 100 dropped half a percent.

U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.

RTTNews | 2 h 48 min atrás

European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment

European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.

RTTNews | 6 h 8 min atrás

Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries

The Canadian market got off to a weak start Friday morning and slipped deeper into the red subsequently, as U.S. President Donald Trump's sweeping tariff announcement rendered the mood bearish.

RTTNews | 7 h 39 min atrás

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.

RTTNews | 8 h 53 min atrás

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.

RTTNews | 8 h 56 min atrás

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.

RTTNews | 8 h 59 min atrás

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

RTTNews | 9 h 45 min atrás

U.S. Job Growth Misses Estimates In July, Previous Months' Numbers Revised Sharply Lower

Job growth in the U.S. fell well short of economist estimates in the month of July, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment rose by 73,000 jobs in July, while economists had expected employment to jump by 110,000 jobs.

RTTNews | 9 h 53 min atrás

EURUSD	1.15956	GBPUSD	1.32834	AUDUSD	0.64735
USDJPY	147.381	USDCAD	1.37779	USDCHF	0.8035

Advertisement

Sensex, Nifty Seen Tad Lower As Oil Rally Continues