Sensex, Nifty Likely To Follow Global Peers Higher

RTTNews | 615 hari yang lalu
Sensex, Nifty Likely To Follow Global Peers Higher

(RTTNews) - Indian shares may open on a positive note Friday, tracking firm cues from global markets.

The upside may remain capped, and volatility cannot be ruled out due to uncertainty surrounding U.S. President Donald Trump's trade policies and tariff threats.

On the earnings front, Dr Reddy's Laboratories, Indus Towers, Adani Green Energy, Mphasis, JSW Seel, DLF, IndiGo and Godrej Consumer Products will be in focus.

Benchmark indexes Sensex and Nifty rose by around 0.2 percent each on Thursday, while the rupee fell by 12 paise to close at 86.47 against the dollar amid continuous outflow of foreign funds.

Foreign institutional investors offloaded shares worth Rs 5,463 crore on a net basis Thursday, while domestic institutional investors bought shares to the extent of Rs 3,713 crore, according to provisional data from NSE.

Asian markets were seeing modest gains this morning, with an upcoming BoJ rate decision in focus.

The U.S. dollar dropped, helping lift gold rise above $2,770 per ounce. Oil prices were subdued following Trump's statement about convincing Saudi Arabia and OPEC to reduce crude costs.

U.S. stocks scored their fourth straight day of gains overnight as investors reacted to a mixed bag of corporate earnings and comments from Trump at the World Economic Forum in Davos, Switzerland.

Trump warned global business leaders they will face tariffs for products made outside of the U.S.

Trump also said he would press the Federal Reserve to lower interest rates "immediately," and ask OPEC and Saudi Arabia to bring down the price of oil.

The S&P 500 rose half a percent to reach a new record closing high while the Dow climbed 0.9 percent and the tech-heavy Nasdaq Composite added 0.2 percent.

European stocks closed at a record high on Thursday as the earnings season picked up steam and optimism prevailed for more ECB rate cuts.

The pan European STOXX 600 gained 0.4 percent. The German DAX and France's CAC 40 both climbed 0.7 percent while the U.K.'s FTSE 100 edged up by 0.2 percent.

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