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Sensex, Nifty To Follow Asian Peers Higher
(RTTNews) - Indian shares are seen opening higher on Thursday despite weak cues from overseas markets.
Trading may turn volatile later in the day due to FII selling and ahead of upcoming U.S. producer inflation and retail sales data.
Adani Group stocks could be in focus on reports that the Group is in talks with banks to refinance debt taken on to fund its purchase of Ambuja Cements.
Benchmark indexes Sensex and Nifty rose around 0.4 percent each on Wednesday as encouraging inflation and industrial output data spurred optimism about India's growth story. The rupee fell by 2 paise to close at 82.97 against the dollar.
Asian markets traded mostly higher this morning, the dollar edged lower and two-year Treasury yields remained below 5 percent while oil edged up after settling slightly lower on Wednesday.
U.S. stocks ended mixed overnight as the release of hot August inflation report kept bets of one more Fed rate hike alive.
Data showed consumer prices increased 3.7 percent year-per-year last month, slightly ahead of the estimated 3.6 percent. Core inflation rose 4.3 percent, matching expectations.
The Dow slipped 0.2 percent, while the S&P 500 inched up 0.1 percent and the tech-heavy Nasdaq Composite added 0.3 percent.
European stocks closed lower on Wednesday as investors reacted to weak eurozone industrial production and U.K. GDP data.
The pan European STOXX 600 eased 0.3 percent. The German DAX and France's CAC 40 both fell around 0.4 percent while the U.K.'s FTSE 100 finished marginally lower.
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