Sensex, Nifty Seen Tad Lower As Oil Extends Rebound
(RTTNews) - Indian shares look set to open on a flat note Friday, with oil & energy stocks likely to be in focus after the government hiked the windfall profit tax on the export of diesel and brought back a tax on jet fuel exports.
PSU banks may also see increased activity after an RBI article recommended a gradual approach of privatization of state-run banks, saying a big-bang approach may be counterproductive.
Benchmark indexes Sensex and the Nifty ended Thursday's choppy session slightly higher on the eve of weekly future & options expiry.
Asian markets traded mixed this morning while the dollar hit a one-month high and Treasury yields drifted higher, weighing on gold prices. Oil extended a rally into a third day as bullish inventory data raised hopes for strong fuel demand.
U.S. stocks struggled for direction before ending slightly higher overnight after the release of disappointing home sales data and better-than expected jobless claims and manufacturing readings.
The Dow finished marginally higher, while the tech-heavy Nasdaq Composite and the S&P 500 both edged up around 0.2 percent.
European stocks also closed higher on Thursday as data showed Euro zone inflation reached a new record high of 8.9 percent year-on-year in July.
The pan European Stoxx 600 gained 0.4 percent. The German DAX and France's CAC 40 index rose about half a percent each while the U.K.'s FTSE 100 added 0.4 percent.
China Stock Market May Find Traction On Friday
Higher Open Called For Taiwan Stock Market
Singapore Shares May Crack Resistance At 4,300 Points
Japan Household Spending Jumps 1.7% In July
Japan Bourse May Extend Thursday's Gains
Win Streak May Continue For South Korea Shares
Japan Household Spending Data Due On Friday
