Sensex, Nifty Set To Extend Gains Amid Global Rally

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(RTTNews) - Indian shares may follow global peers higher on Wednesday as strong U.S. corporate earnings and the expected resumption of Russian gas supply to Europe helped boost investor sentiment.

There is more good news as the government reduced the windfall tax on diesel and aviation fuel shipments by Rs 2 a liter, and scrapped completely a Rs 6-per-liter levy on gasoline exports.

On the earnings front, FMCG major Hindustan Unilever beat estimates with a 13 percent uptick in profits year-on-year for the June 2022 quarter, while HDFC Life's Q1 profit jumped 21 percent.

Wipro and IndusInd Bank are among the prominent companies due to report their financial results today.

Benchmark indexes Sensex and the Nifty both rose around half a percent each on Tuesday while the rupee breached the 80-mark against the dollar for the first time before closing 6 paise higher at 79.92 following RBI intervention.

Asian markets surged, with key benchmark indexes in Australia, Hong Kong and Japan rising around 2 percent.

The dollar held near two-week lows as the euro extended its overnight bounce on relief Europe might be able to avoid the worst fears concerning energy shortages.

Oil prices fell slightly in early Asian trade after a three-day rally. Gold dipped on higher bond yields ahead of the BoJ and ECB policy meetings.

U.S. stocks rose sharply overnight as more companies reported better-than-expected earnings, offsetting worries about inflation and interest-rate hikes.

The Dow surged 2.4 percent, the tech-heavy Nasdaq Composite jumped 3.1 percent and the S&P 500 spiked 2.8 percent despite signs the housing market is slowing from its torrid pace.

European stocks extended gains for a third straight session on Tuesday despite reports that a 50-bps rate hike is on the cards at the upcoming ECB policy meeting.

The pan European Stoxx 600 advanced 1.4 percent. The German DAX gained 2.7 percent, France's CAC 40 index surged 1.8 percent and the U.K.'s FTSE 100 added 1 percent.

European Shares Seen Higher At Open

European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.

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Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.

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European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.

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Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

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Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.

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Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect

Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.

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Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.

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Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

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EURUSD	1.16426	GBPUSD	1.35065	AUDUSD	0.65132
USDJPY	147.123	USDCAD	1.3779	USDCHF	0.80161