Sensex, Nifty Seen Opening Higher As Middle East Tensions Ease

RTTNews | 909 hari yang lalu

(RTTNews) - Indian shares are seen opening higher on Monday despite mixed cues from global markets. Investors are likely to keep a close eye on the latest geopolitical developments after Israel said it would pull some troops out from Gaza.

Iran continued to prepare a response to a suspected Israeli attack on its consulate in Syria, while Hezbollah warned that it's ready for war.

The focus will shift to Q4 earnings this week, with IT services giant Tata Consultancy Services (TCS) set to kick off the earnings season for the March quarter of FY24 on Friday, aftermarket trading hours.

On the data front, reports on retail inflation for March and industrial output for February are scheduled to be released this week.

Globally, the ECB policy meeting, speeches by Fed officials, the release of minutes of Fed's March FOMC meeting, U.S. March inflation data and earnings results from U.S. banks JPMorgan Chase & Co. and Citigroup may sway markets this week.

Asian stocks traded mixed this morning, with mainland Chinese markets slipping into the red as trading resumed after a two-day holiday.

Treasuries tickled lower and the dollar traded firm after strong U.S. jobs data highlighted doubts on when the Fed would deliver its first interest-rate cut this year.

Gold was marginally lower after surging to record highs last week. Oil prices fell nearly 2 percent in Asian trading as Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict.

U.S. stocks rose sharply on Friday as data showed the world's largest economy added more jobs than expected in March and the jobless rate edged down to 3.8 percent from 3.9 percent in February.

Non-farm payroll employment spiked by 303,000 jobs in March after surging by a downwardly revised 270,000 jobs in February.

The report showed muted wage inflation, raising optimism the upcoming CPI report might not surprise to the upside.

The tech-heavy Nasdaq Composite surged 1.2 percent, the S&P 500 added 1.1 percent and the Dow gained 0.8 percent.

European stocks fell on Friday amid persisting tensions in the Middle East and continued uncertainty about the Fed's rate trajectory.

The pan European STOXX 600 declined 0.8 percent. The German DAX lost 1.2 percent, France's CAC 40 shed 1.1 percent and the U.K.'s FTSE 100 gave up 0.8 percent.

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Swiss Market Ends On Firm Note

Save for a few minutes at the start, the Switzerland market's benchmark index SMI stayed positive on Friday as lower oil prices and bond yields helped underpin sentiment. Additionally, weaker than expected jobs data from the U.S. has somewhat reduced the likelihood of the Federal Reserve raising interest rates at its next meeting later this month.

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European Markets Recover From Multi-month Lows, Close On Positive Note

A day after falling to multi-month lows, European markets rebounded fairly strongly on Friday as oil prices fell sharply and bond yields dropped, easing concerns about inflation and interest rates a bit.

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Canadian Market Remains Firmly Up In Positive Territory

The Canadian market is up firmly in positive territory around noon on Friday thanks to weak oil prices and lower bond yields aiding sentiment. Additionally, weaker than expected jobs data from the U.S. has somewhat reduced the likelihood of the Federal Reserve raising interest rates at its next meeting later this month.

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U.S. Factory Orders Inch Up In Line With Estimates In August

A report released by the Commerce Department on Friday showed a slight uptick in new orders for U.S. manufactured goods in the month of August. The Commerce Department said factory orders crept up by 0.1 percent in August after climbing by a downwardly revised 0.8 percent in July.

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U.S. Employment Rises By 29,000 Jobs In September, Much Less Than Expected

The Labor Department released a closely watched report on Friday showing employment in the U.S. increased by much less than expected in the month of September. The report said non-farm payroll employment rose by 29,000 jobs in September after jumping by a downwardly revised 133,000 jobs in August. Economists had expected employment to increase by 85,000 jobs.

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Euro Slides Against Majors

The euro weakened against other major currencies in the European session on Friday.

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Walmart Recalls Over 4.4 Mln Grill Brushes For Ingestion Risk

Retail giant Walmart Inc. is recalling around 4.478 million units of metal wire bristle grill brushes, citing risk of ingestion and internal injuries, according to the U.S. Consumer Product safety Commission or CPSC. The recall involves certain Walmart Expert Grill brushes with black plastic or stainless-steel handles. Some brushes come with metal scraper attached.

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Bay Street Headed For Positive Start

Canadian stocks look headed for a positive start on Friday with concerns about inflation and interest rates easing a bit following a sharp drop in oil prices. Bond yields have dropped as well. U.S. non-farm payroll data for the month of September is likely to make an impact on investor sentiment.

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