Sensex, Nifty Seen Lower At Open
(RTTNews) - Indian shares are seen opening slightly lower on Friday, tracking muted cues from global markets. Automakers would be in focus after reports of price hikes.
Benchmark indexes Sensex and Nifty fell around half a percent each on Thursday after two successive days of gains. The rupee gained 39 paise to close at 82.20 against the dollar.
Asian markets were seeing modest losses this morning despite Treasury yields extending declines for a third day. The dollar steadied and WTI crude futures fell towards $69 a barrel while gold held near $2,000 per ounce levels.
U.S. stocks ended a volatile session higher overnight after U.S. Treasury secretary Janet Yellen reassured that regulators are prepared to take more action to keep deposits safe at banks.
On the economic front, the latest reports on weekly jobless claims and new home sales painted a positive picture of the economy.
The Dow inched up 0.2 percent and the S&P 500 added 0.3 percent while the tech-heavy Nasdaq Composite rallied 1 percent as Treasury yields sank amid signs that the Federal Reserve is nearing the end of its tightening cycle.
European stocks closed Thursday's session mostly lower as the Bank of England joined Norway and Switzerland in hiking interest rates.
The pan European STOXX slipped 0.2 percent. The German DAX finished marginally lower and the U.K.'s FTSE 100 shed 0.9 percent while France's CAC 40 edged up 0.1 percent.
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