Sensex, Nifty To Open Tad Higher As Yields Drop On Rate Cut Bets
(RTTNews) - Indian shares look set to open on a positive note Thursday after Wall Street stocks inched closer to record highs overnight on dovish Fed bets. Trading may turn somewhat volatile later in the day on the eve of the monthly expiry of December month derivative contracts.
Benchmark indexes Sensex and Nifty jumped around 1 percent each on Wednesday to extend gains for the fourth straight session and hit fresh record closing highs while the rupee fell by 16 paise to close at 83.35 against the dollar.
Asian markets were seeing modest gains this morning to trade at five-month highs. The dollar eased as Treasury yields touched seven-month lows.
Oil was little changed after seeing the largest two-week drop in the U.S. trading session overnight on signs of U.S. stockpile build and as major shippers announced they would return to the Red Sea.
U.S. stocks eked out modest gains overnight as the yield on the ten-year note fell to its lowest level in five months after a strong auction, adding to optimism that the Fed will start cutting interest rates soon.
The Dow inched up 0.3 percent to reach a new record closing high, while the tech-heavy Nasdaq Composite and the S&P 500 gained 0.2 percent and 0.1 percent, respectively to hit their best closing levels in almost two years.
European stocks rose in thin post-Christmas trading on Wednesday, with real estate and technology stocks leading the surge.
The pan European STOXX 600 advanced 0.2 percent. The German DAX edged up 0.2 percent, France's CAC 40 finished marginally higher and the U.K.'s FTSE 100 added 0.4 percent.
European Markets Seen Rising On Wednesday
Australian Dollar Falls Against Majors
Australia Inflation Rises In August
China Private Sector Growth Improves
Australian Market Sharply Extends Early Gains In Mid-market
Asian Markets Trade Mostly Higher
Indian Shares Likely To Open On Mixed Note
