Sensex, Nifty Set To Drift Lower On Weak Global Cues

RTTNews | 589天前

(RTTNews) - Indian shares are likely to open on a downbeat note Wednesday, tracking downbeat cues from global markets.

The downside, however, may remain limited after crude prices reversed early gains to end sharply lower Tuesday on expectations that the developments in the Middle East will not lead to major supply disruptions.

Adani Group stocks could be in focus today ahead of the Supreme Court verdict in the Adani-Hindenburg case.

Banking stocks may also see increased activity after the RBI proposed draft norms on dividend declaration by banks.

Meanwhile, India has recorded 573 fresh cases of Covid-19 in the last 24 hours, according to Union Health Ministry data.

Benchmark indexes Sensex and Nifty ended modestly lower on Tuesday while the rupee fell by 11 paise to close at 83.32 against the dollar.

Asian markets traded mostly lower this morning and the dollar edged higher on risk-off sentiment as doubts resurfaced over early interest rate cuts by the Federal Reserve.

Gold held steady while oil extended steep overnight declines despite concerns over the Red Sea.

U.S. stocks ended lower overnight to extend the pullback seen in the final trading session of 2023 as Barclays downgraded Apple stock to underweight and yields ticked higher from multi-month lows on waning rate cut optimism.

The tech-heavy Nasdaq Composite tumbled 1.6 percent and the S&P 500 gave up 0.6 percent while the Dow finished marginally higher after a choppy session.

European stocks ended mostly lower on Tuesday, giving up early gains after the release of downbeat Eurozone and U.K. manufacturing PMI data.

The pan-European STOXX 600 ended 0.1 percent lower after hitting its highest level since Jan. 2022 intraday.

The German DAX inched up 0.1 percent while France's CAC 40 and the U.K.'s FTSE 100 both slipped around 0.2 percent.

Canadian Market Remains In Negative Territory After Weak Start

The Canadian market, which opened on a weak note Thursday morning, continues to languish in negative territory well past noon, weighed down by losses in technology and industrials sectors.

RTTNews | 1小时29分钟前

Swiss Market Ends Modestly Higher After Mild Struggle

The Switzerland market recovered after a flat start on Thursday, and after staying positive till well past noon, suffered a setback but regained some strength to eventually end the day's session modestly higher.

RTTNews | 1小时53分钟前

Major European Markets Close On Positive Note

Amid expectations of a rate cut from the Federal Reserve in September, and hopes the meeting between the Presidents of the U.S. and Russia will help end the war in Ukraine, the major European markets closed on a positive note on Thursday, although the U.K. market underperformed other major markets in the region.

RTTNews | 2小时9分钟前

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.

RTTNews | 4小时37分钟前

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.

RTTNews | 5小时10分钟前

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | 5小时51分钟前

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

RTTNews | 6小时22分钟前

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.

RTTNews | 6小时25分钟前

EURUSD	1.16451	GBPUSD	1.35361	AUDUSD	0.6497
USDJPY	147.826	USDCAD	1.38098	USDCHF	0.8079