Sensex, Nifty Poised For Lower Open As Bond Yields Climb

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Sensex, Nifty Poised For Lower Open As Bond Yields Climb

(RTTNews) - Indian shares look set to open on a tepid note Wednesday as rising U.S. Treasury yields may weigh on growth stocks including the technology sector.

Benchmark indexes Sensex and Nifty climbed around 0.6 percent each on Tuesday to extend gains for a second straight session while the rupee fell by 20 paise to close at 82.85 against the dollar.

Asian markets traded mixed this morning, gold slipped, and the dollar hit a one-week high against the yen while oil traded slightly lower.

U.S. stocks ended mostly lower overnight as trading resumed following the long Christmas weekend.

The tech-heavy Nasdaq Composite tumbled 1.4 percent to reach its lowest closing level in well over a month and the S&P 500 dropped 0.4 percent as rising Treasury yields weighed on mega-cap growth stocks, offsetting optimism about China reopening plans. The Dow inched up 0.1 percent.

European stocks closed higher on Tuesday after China said it would end travel restrictions and quarantine for inbound travelers from Jan. 8 — symbolizing an end to its zero-COVID policy that has been in place for nearly three years.

The pan European STOXX 600 gained 0.1 percent. The German DAX rose 0.4 percent and France's CAC 40 index added 0.7 percent while the U.K. markets were closed for a public holiday.

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German Factory Orders Rebound Ahead Of U.S. Tariffs

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Germany's factory orders grew more than expected in March as U.S. manufacturers front-loaded their orders to avoid higher tariffs, official data revealed Wednesday. Factory orders advanced 3.6 percent month-on-month in March after remaining flat in February, Destatis reported. Orders are forecast to grow 1.4 percent.
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Bay Street Likely To Open Higher

Bay Street Likely To Open Higher

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FTSE Modestly Lower In Cautious Trade

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The U.K. market is modestly lower on Wednesday as investors largely tread cautiously, digesting earnings and regional economic data, and awaiting the monetary policy announcements from the Federal Reserve and the Bank of England.
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UK Construction Sector Continues To Shrink

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The UK construction activity continued to contract in April as business uncertainty and concerns about economic outlook damped client demand, survey data from S&P Global showed on Wednesday. The construction Purchasing Managers' Index rose unexpectedly to 46.6 in April from 46.4 in March. This was the slowest decline in output levels for three months.
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CAC 40 Moderately Lower Ahead Of Fed Policy Announcement

CAC 40 Moderately Lower Ahead Of Fed Policy Announcement

French stocks are down in negative territory Wednesday morning with investors making cautious moves, reacting to earnings, and awaiting the Federal Reserve's monetary policy announcement, due later in the day.
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Euro Rises Against Majors

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The euro strengthened against other major currencies in the European session on Wednesday.
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Novo Nordisk Stock Climbs On Higher Q1 Results; Cuts FY25 Outlook

Novo Nordisk Stock Climbs On Higher Q1 Results; Cuts FY25 Outlook

Shares of Novo Nordisk A/S were gaining around 6 percent in Denmark as well as around 7 percent in the pre-market activity on the NYSE, after the Danish drug major reported Wednesday higher profit and sales in its first quarter, mainly reflecting improved results of its blockbuster weight loss drug Wegovy. Meanwhile, the company trimmed fiscal 2025 outlook for sales and operating profit growth...
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