Sensex, Nifty Poised For Positive Start; IT Earnings And Economic Data Eyed
(RTTNews) - Indian shares are seen opening flat to slightly higher on Thursday as investors await earnings from IT majors as well as the latest readings on industrial output and retail inflation for directional cues.
India will become the third largest economy by 2027-28, with a GDP of over USD 5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday at the Vibrant Gujarat Global Summit.
Making India a $30-trillion economy by 2047 is a "conservative" estimate, she added. Benchmark indexes Sensex and Nifty ended modestly higher on Wednesday while the rupee gained 10 paise to close at 83.03 against the dollar, extending its winning streak into a sixth day.
Asian markets were mostly higher this morning, with Japan's Nikkei extending its record-breaking rally on dovish BOJ bets.
Treasuries were unchanged and the dollar paused ahead of U.S. CPI and PPI readings, while oil held an overnight decline after data showed an unexpected increase in U.S. stockpiles. Gold steadied after falling in the previous session.
U.S. stocks and bond yields inched up overnight ahead of key inflation readings and bank earnings.
The tech-heavy Nasdaq Composite climbed 0.8 percent to close higher for the fourth straight session while the Dow rose half a percent and the S&P 500 added 0.6 percent. European stocks fell for a second consecutive session on Wednesday after ECB policymakers said prospects for the euro area economy in the near term remain weak.
The pan European STOXX 600 eased 0.2 percent. The German DAX and France's CAC 40 both ended flat while the U.K.'s FTSE 100 slipped 0.4 percent.
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