Sensex, Nifty Set To Drift Lower On Weak Asian Cues
(RTTNews) - Indian shares are likely to open on a sluggish note Thursday as government bond yields edged lower globally, and U.S. chipmaker Micron Technology offered soft revenue guidance after reporting third-quarter profit that missed analysts' estimates.
Benchmark indexes Sensex and Nifty jumped 0.8 percent and 0.6 percent respectively to reach fresh record highs on Wednesday while the rupee fell by 17 paise to close at 83.57 against the dollar after gaining for three consecutive trading sessions.
Asian markets fell across the board this morning as tech stocks resumed declines.
Treasuries extended their sell-off and gold hovered near a two-week low on dollar strength as investors await a key U.S. inflation reading to gauge the path of monetary policy.
Oil edged lower on fears of slowing U.S. demand after data showed a surprise inventory build.
Overnight, U.S. stocks struggled for direction before ending slightly higher as investors awaited key economic data and the Fed's release of results from its annual banking sector stress test.
In economic news, data showed sales of new U.S. single-family homes dropped to a six-month low in May as mortgage rates remain elevated.
The tech-heavy Nasdaq Composite gained half a percent while the S&P 500 edged up 0.2 percent and the Dow finished marginally higher.
European stocks ended lower on Wednesday, failing to hold early gains due to uncertainty over French election outcome and the U.S. interest-rate outlook.
The pan European STOXX 600 gave up 0.6 percent. The German DAX slipped 0.1 percent, France's CAC 40 shed 0.7 percent and the U.K.'s FTSE 100 eased 0.3 percent.
TSX Up Sharply As Rate Hike Concerns Fade; Aritzia Soars On Earnings Update
Swiss Market Ends On Bright Note
European Markets Close Higher For 2nd Straight Session
U.S. Consumer Sentiment Index Falls More Than Expected In October
Delta Stock Drops On Cautious Earnings View In Q4 & FY27 After Weak Q3
Canadian Market Likely To Open On Mixed Note
Yen Falls Against Majors
