Sensex, Nifty Poised For Positive Open As TCS Beats Q2 Estimates
(RTTNews) - Indian shares look set to open higher on Thursday as TCS' Q2 profit beat estimates, oil extended losses after Saudi's pledge to stabilize markets, and the FOMC's September meeting minutes showed the Fed is poised to "proceed carefully" on interest rate decision going forward.
That said, the upside may remain limited, and volatility is not ruled out ahead of domestic and US CPI data due out later in the day.
Benchmark indexes Sensex and Nifty rose around 0.6 percent each on Wednesday while the rupee ended 6 paise higher at 83.19 against the dollar.
Asian markets followed Wall Street higher this morning while the dollar index and Treasury yields held near two-week lows, helping lift bullion. Oil extended losses after having fallen over 2 percent in the U.S. trading session overnight.
U.S. stocks extended gains for the fourth consecutive session on Wednesday as oil prices fell again and the Fed's September meeting minutes echoed the recent message of data dependence, with around two-thirds of Fed members predicting one more rate hike before the end of 2023.
Traders largely shrugged off data showing that a measure of wholesale prices rose more than expected in September, partly due to a continued surge in energy prices.
The tech-heavy Nasdaq Composite advanced 0.7 percent, while the S&P 500 added 0.4 percent and the Dow rose 0.2 percent.
European stocks ended mixed on Wednesday after logging their biggest gains in nearly a year the previous day.
The pan-European STOXX 600 gained 0.2 percent. The German DAX edged up 0.2 percent, while France's CAC 40 shed 0.4 percent and the U.K.'s FTSE 100 index slid 0.1 percent.
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FTSE 100 Edges Higher On Mining, Banking Strength
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