Sensex, Nifty Set To Follow Global Peers Lower

RTTNews | 914 hari yang lalu

(RTTNews) - Indian shares look set to open on a sluggish note Wednesday as investors fret over rising tensions in the Middle East and the U.S. interest-rate outlook.

The first policy meeting of the RB's rate-setting panel for FY25 is scheduled this week from April 3-5, 2024. A status quo on rates is likely, given the backdrop of strong growth and inflation persistently exceeding the MPC's target.

Investors also await Q4 earnings results, with major IT companies expected to report muted revenue growth.

Benchmark indexes Sensex and Nifty ended a choppy session marginally lower on Tuesday, while the rupee ended little changed.

Asian markets traded lower this morning, with benchmark indexes in Australia, South Korea and Japan falling over 1 percent as hopes for an early Fed rate cut faded.

Higher commodity prices as well as heightened tensions in the Middle East fueled fresh concerns about inflation and the interest-rate outlook.

The dollar was little changed in Asian trading ahead of Fed Chair Jerome Powell's speech later in the day and the release of the highly anticipated U.S. jobs report later in the week.

Gold prices extended their record rally amid growing West Asia tensions. Likewise, oil extended a rally on industry data showing a drawdown in U.S. crude inventories.

U.S. stocks ended lower overnight as the yield on the benchmark ten-year note reached a four-month high on comments from Fed officials signaling higher interest rates for longer.

Encouraging readings on job openings and factory orders also added to skepticism about the pace of Fed easing.

The Dow gave up 1 percent and the S&P 500 dipped 0.7 percent to extend Monday's losses while the tech-heavy Nasdaq Composite declined 1 percent.

European stocks closed lower on Tuesday after the release of euro zone manufacturing, German inflation and U.K. house price data.

The pan European STOXX 600 shed 0.8 percent as trading resumed after a long holiday weekend.

The German DAX lost 1.1 percent, France's CAC 40 dipped 0.9 percent and the U.K.'s FTSE 100 slid 0.2 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.

RTTNews | 1 hari yang lalu

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