Sensex, Nifty Set To Open Lower On US Inflation Concerns

RTTNews | 1163 дней спустя

(RTTNews) - Indian shares look set to open notably lower on Monday as investors react to weak global cues, HDFC Bank earnings and the government's decision to hike windfall gain tax on domestically produced crude oil.

HDFC Bank on Saturday reported a 22.3 percent in its consolidated net profit for the September quarter because of healthy growth in net interest income and a decline in loan loss provisions.

Prominent companies that will unveil their earnings results this week include, ACC, Asian Paints, Axis Bank, Bajaj Finance, Bajaj FinServ, HDFC Asset Management Company, Hindustan Unilever, ICICI Bank, IndusInd Bank, ITC, JSW Steel, Kotak Mahindra Bank, Nestle India, Reliance Industries, SBI Life, Tata Consumer Products and UltraTech Cement.

The Central government has raised the windfall tax on crude oil by about 37 percent to Rs. 11,000 per ton as part of the fortnightly revision in the rate.

Asian markets were broadly lower this morning, while oil and gold prices traded higher on a softer dollar after Chinese President Xi Jinping pledged to continue accommodative policies for the economy.

U.S. stocks slumped Friday and bond yields spiked after a closely watched survey showed inflation expectations were increasing, adding to worries around the Fed's policy tightening.

Investors also reacted to a mixed bag of earnings results from large banks and the unchanged reading in retail sales last month.

The tech-heavy Nasdaq Composite lost 3.1 percent to hit its lowest closing level in over two years while the Dow gave up 1.3 percent and the S&P 500 shed 2.4 percent.

European stocks closed higher on Friday after the British government announced a U-turn on certain elements of its controversial fiscal policies.

The pan European Stoxx 600 gained 0.6 percent. The German DAX rose 0.7 percent, France's CAC 40 index added 0.9 percent and the U.K.'s FTSE 100 inched up 0.1 percent.

Malaysia Shares May Open To The Upside Again On Tuesday

The Malaysia stock market has moved higher in three straight sessions, advancing almost 30 points or 1.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,670-point plateau and it's expected to open in the green again on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | 1ч 5мин назад

Japan Stock Market May Add To Its Winnings On Tuesday

The Japanese stock market has finished higher in two consecutive trading days, soaring more than 1,400 points or 2.7 percent along the way. The Nikkei 225 now sits just above the 50,400-point plateau and it may extend its gains on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead. The Nikkei finished sharply higher on Monday following gains from the financial shares, technology stocks and automobile producers. For the day, the index jumped 895.18 points or 1.81 percent to finish at 50,402.39 after trading between 49,982.20 and 50,590.88. Among the actives, Nissan Motor improved 0.75 percent, while Mazda Motor accelerated 4.34 percent, Toyota Motor advanced 0.91 percent, Honda Motor strengthened 1.61 percent, Softbank Group soared 4.09 percent, Mitsubishi UFJ Financial jumped 1.86 percent, Mizuho Financial vaulted 1.40 percent, Mitsubishi Electric rallied 1.74 percent, Panasonic Holdings spiked 3.47 percent and Hitachi expanded 1.89 percent.

RTTNews | 1ч 20мин назад

Additional Support Called For South Korea Shares

The South Korea stock market has moved higher in two straight sessions, advancing more than 110 points or 2.7 percent along the way. The KOSPI now sits just above the 4,100-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | 1ч 35мин назад