Indian Shares Likely To Open On Subdued Note

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(RTTNews) - Mixed Asian markets and the overnight weak close on Wall Street are pointing to a somewhat subdued start in the Indian stock market, where trading resumes Tuesday morning after an extended weekend.

With a slew of crucial U.S. economic data due this week, the mood in the market is likely to remain cautious, and activity may well be stock specific with investors tracking corporate news, if any.

SAIL will be in focus as the state-run steel producer seeks to increase the provisional price of rails to the Indian Railways, citing higher costs.

Eicher Motors Limited has launched a new Himalayan bike, priced at Rs 2.69 lakh onwards.

Newgen Software Technologies Limited has announced that its board has approved the proposal to issue bonus shares in the ratio of 1:1. The company has set the record date as Friday, 12 January 2024 for the purpose.

Maruti Suzuki has announced that it plans to increase the prices of its cars across models in January 2024 due to increased cost pressure driven by overall inflation and increased commodity prices.

On the economic front, S&P Global Ratings has hiked India's GDP growth rate forecast for 2023-24 to 6.4% from 6% earlier. However, it has slashed the GDP growth projection for financial year 2024-25 by 50 basis points to 6.4%.

India's Q2 GDP data and the infrastructure output data for October will be released on Thursday while the manufacturing PMI numbers will be out on Friday.

Indian shares ended slightly lower on Friday due to muted cues from global markets. The benchmark S&P/BSE Sensex swung between gains and losses before ending the session down 47.77 points, or 0.07%, at 65,970.04. The broader NSE Nifty index settled 7.30 points, or 0.04%, lower at 19,794.70.

Indian markets remained closed on Monday on account of Guru Nanak Jayanti.

Swiss Market Ends Notably Lower

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European Stocks Close Mostly Higher On Earnings, Fed Rate Cut Hopes

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Canadian Stocks Surge Higher Again; TSX Scales New Record High

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India Holds Key Interest Rates Steady As Trade Tensions Escalate

The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.

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Bay Street Looks Set To Extend Upmove

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Eurozone Retail Sales Recover In June

Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter, official data revealed on Wednesday. Retail sales grew 0.3 percent on a monthly basis in June, offsetting May's 0.3 percent decline, Eurostat said. However, this was marginally weaker than economists' forecast for a 0.4 percent increase.

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Euro Rises As European Shares Traded Higher

The euro strengthened against other major currencies in the European session on Wednesday, as European shares traded higher despite weak factory orders data from Germany and fresh tariff threats from U.S. President Donald Trump on pharma and chips. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.

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Disney Lifts FY25 EPS View After Q3 Profit Beats Market; ESPN In Deal With WWE, NFL

Media and entertainment major Walt Disney Co. (DIS) on Wednesday raised fiscal 2025 outlook for earnings.above the Street after reporting significantly higher profit in its third quarter, above market estimates. Meanwhile, revenues missed the market view, despite reporting a growth. Separately, Disney announced that its unit ESPN has signed a landmark rights agreement with WWE.

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EURUSD	1.1657	GBPUSD	1.33577	AUDUSD	0.65037
USDJPY	147.176	USDCAD	1.37428	USDCHF	0.80662

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Indian Shares Likely To Open On Subdued Note