Sensex, Nifty Seen Higher At Open; Inflation Data Eyed

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Sensex, Nifty Seen Higher At Open; Inflation Data Eyed

(RTTNews) - Singapore Nifty futures indicate a positive start for Indian markets after recent losses. Underlying sentiment, however, may remain cautious amid growing risk aversion stemming from the U.S. rate hike fears and escalating geopolitical tensions.

The IMF said it anticipates 2023 will feel like a recession for millions around the world, echoing warnings from the United Nations, the World Bank and many global CEOs.

India's GDP growth forecast for 2022-23 has been lowered to 6.8 percent from 7.4 percent it had estimated earlier in July.

Retail inflation data is due later in the day, with the CPI expected to hit a five-month high of 7.30 percent in September due to surging food prices.

Benchmark indexes Sensex and Nifty both fell around 1.5 percent each on Tuesday to extend losses for a third straight session, while the rupee ended little changed at 82.35 against the greenback.

Asian markets were broadly lower this morning, with Chinese and Hong Kong stocks leading regional losses as Beijing imposed fresh lockdowns and travel restrictions amid COVID surge.

The dollar hit a 24-year high against the yen amid Instability in the U.K. bond market and U.S. inflation data due this week, while oil extended declines for a third consecutive session on demand concerns.

U.S. stocks fluctuated before ending mostly lower overnight, as the IMF warned of slowing growth and the Bank of England ruled out extending its emergency intervention in Britain's bond market into next week.

The Dow inched up 0.1 percent while the S&P 500 shed 0.7 percent and the tech-heavy Nasdaq Composite lost 1.1 percent.

European stocks declined for the fifth day running on Tuesday as investors assessed risks to corporate earnings and economic growth from rising interest rates, escalating geopolitical tensions and climbing COVID cases across China.

The pan European Stoxx 600 gave up 0.6 percent. The German DAX slipped 0.4 percent, France's CAC 40 index eased 0.1 percent and the U.K.'s FTSE fell 1.1 percent.

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Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market moves on Friday, reversing some of the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving to near the 8,400 level, with gains is financial and technology stocks partially offset by weakness in mining and energy stocks.
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Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Friday, following the mixed cues from Wall Street overnight, as US Treasury yields eased on improved US data and comments from a US Fed official that he still sees a path to interest rate cuts later this year. Concerns about the fiscal impact of the US Republican tax cut bill is weighing on the markets. Asian markets ended mostly lower on Thursday.
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Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening a tad higher on Friday as U.S. Treasury yields eased on improved U.S. data and comments from a Federal Reserve official that he still sees a path to interest rate cuts later this year.
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Thai Bourse May Extend Losing Streak

Thai Bourse May Extend Losing Streak

The Thai stock market has finished lower in two straight sessions, giving away more than 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,175-point plateau and it may tick lower again on Friday.
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Japanese Market Notably Higher

Japanese Market Notably Higher

Reversing the losses in the previous two sessions, the Japanese market is notably higher on Friday, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 37,250 level, with gains across most sectors led by index heavyweights, exporters and technology stocks.
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Indonesia Stock Market May Spin Its Wheels On Friday

Indonesia Stock Market May Spin Its Wheels On Friday

The Indonesia stock market has moved higher in two straight sessions, gathering more than 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,165-point plateau, although the rally may stall on Friday.
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Australian Market Modestly Higher

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Friday after opening in the red, reversing some of the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving to near the 8,400 level, with gains in financial and technology stocks partially offset by weakness in mining and energy stocks.
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Hong Kong Shares Expected To Open To The Downside

Hong Kong Shares Expected To Open To The Downside

The Hong Kong stock market on Thursday ended the two-day winning streak in which it had rallied almost 500 points or 2.2 percent. The Hang Seng Index now sits just beneath the 23,550-point plateau and it's tipped to open in the red again on Friday.
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