Sensex, Nifty May See Modest Gains At Open

RTTNews | vor 846 Tagen

(RTTNews) - Indian shares may see modest gains at open on Thursday, helped by positive global cues and a significant downside in oil prices.

Crude prices were modestly higher in Asian trading after having tumbled around 9 percent in the previous two sessions on concerns about the demand outlook in the United States and China.

The rupee may extend gains from the previous session as the dollar struggled to advance despite hawkish Fed rhetoric.

Benchmark indexes Sensex and Nifty ended down over 1 percent each on Wednesday after two days of gains.

The rupee settled 23 paise higher at 82.77 against the greenback, snapping a two-day fall and recovering from its record low on the back of easing crude oil prices.

Asian markets were seeing modest gains this morning in cautious trade, with Hong Kong stocks outperforming.

The yen softened against the dollar, while oil and gold prices were seeing modest gains amid the COVID-19 surge in China and expectations of an impending global recession.

China's COVID data is not giving an accurate picture of the situation there and underrepresents the number of hospitalizations and deaths from the disease, Mike Ryan, WHO's emergencies director, told reporters in Geneva.

U.S. stocks fluctuated before eventually finishing higher overnight as latest data revealed contraction in manufacturing activity and the minutes from the Fed's December policy meeting showed interest rates will stay high through 2023 to curb "unacceptably high" inflation.

The Dow edged up 0.4 percent, the tech-heavy Nasdaq Composite gained 0.7 percent and the S&P 500 added 0.8 percent.

European stocks closed on a buoyant note Wednesday amid more positive economic data and signs of cooling inflation in the region.

The pan European STOXX 600 jumped 1.4 percent. The German DAX surged 2.2 percent, France's CAC 40 index rallied 2.3 percent and the U.K.'s FTSE 100 rose 0.4 percent.

Pound Falls Against Most Majors

The pound weakened against its most major counterparts in the New York session on Wednesday.

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Swiss Market Ends On Positive Note

The Switzerland market, which held firm till well past noon on Wednesday after a steady start, suffered a setback in the final hour, but managed to recover in the closing minutes to sign off on a positive note. Easing worries about tariffs and some strong results helped underpin sentiment.

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Despite staging a fairly strong recovery after an early setback, the Canadian market remains firmly down in negative territory a little past noon on Wednesday, with stocks from energy, technology and healthcare sectors reeling under selling pressure. Disappointing Canadian and U.S. GDP data, and Trump administration's policy uncertainty are weighing on sentiment.

RTTNews | vor 3Std 35 Minuten

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RTTNews | vor 3Std 45 Minuten

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U.S. Consumer Prices Virtually Unchanged In March, In Line With Estimates

A closely watched report released by the Commerce Department on Wednesday showed U.S. consumer prices were virtually unchanged in the month of March. The Commerce Department said its personal consumption expenditures (PCE) price index edged down by less than a tenth of a percent in March after rising by an upwardly revised 0.4 percent in February.

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Chicago Business Barometer Drops More Than Expected In April

MNI Indicators released a report on Wednesday showing its reading on Chicago-area business activity fell by more than expected in the month of April.

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EURUSD	1.13258	GBPUSD	1.33248	AUDUSD	0.64046
USDJPY	143.021	USDCAD	1.37858	USDCHF	0.82576

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Sensex, Nifty May See Modest Gains At Open