Sensex, Nifty Poised For Lower Open As Bond Yields Climb
(RTTNews) - Indian shares look set to open on a tepid note Wednesday as rising U.S. Treasury yields may weigh on growth stocks including the technology sector.
Benchmark indexes Sensex and Nifty climbed around 0.6 percent each on Tuesday to extend gains for a second straight session while the rupee fell by 20 paise to close at 82.85 against the dollar.
Asian markets traded mixed this morning, gold slipped, and the dollar hit a one-week high against the yen while oil traded slightly lower.
U.S. stocks ended mostly lower overnight as trading resumed following the long Christmas weekend.
The tech-heavy Nasdaq Composite tumbled 1.4 percent to reach its lowest closing level in well over a month and the S&P 500 dropped 0.4 percent as rising Treasury yields weighed on mega-cap growth stocks, offsetting optimism about China reopening plans. The Dow inched up 0.1 percent.
European stocks closed higher on Tuesday after China said it would end travel restrictions and quarantine for inbound travelers from Jan. 8 — symbolizing an end to its zero-COVID policy that has been in place for nearly three years.
The pan European STOXX 600 gained 0.1 percent. The German DAX rose 0.4 percent and France's CAC 40 index added 0.7 percent while the U.K. markets were closed for a public holiday.
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