Indian shares are seen opening slightly lower on Friday as investors react to weak global cues, a retreat in oil prices and the dollar’s slide in international markets.
Benchmark indexes Sensex and the Nifty fell 0.7 percent and 0.6 percent, respectively on Thursday to extend losses for the third straight session, while the rupee ended 9 paise higher at 72.65 on the back of consistent forex inflows and losses in the American currency in the global markets.
Asian markets are moving lower this morning, the dollar nursed losses and the oil rally stalled as disappointing U.S. labor market data soured the economic outlook.
The British pound held near an almost three-year high reached overnight as Britain’s aggressive vaccination program fueled hopes for rapid economic recovery.
Benchmark U.S. Treasury yields edged higher, having hit a near one-year peak earlier in the week.
U.S. stocks ended lower overnight as Walmart warned of slowing sales growth and data showed an unexpected rise in weekly jobless claims and a fall in housing starts for the first time in five months.
The Dow Jones Industrial Average and the S&P 500 dropped around 0.4 percent, while the tech-heavy Nasdaq Composite shed 0.7 percent.
European markets fell for a third day running on Thursday as a strong euro and rising commodity prices sparked inflation fears. The ECB meeting minutes had little impact on markets as expected.
The pan European Stoxx 600 gave up 0.8 percent. The German DAX edged down 0.2 percent, France’s CAC 40 index shed 0.7 percent and the U.K.’s FTSE 100 fell 1.4 percent.
Sensex, Nifty Eye Muted Start
2021-02-19 02:31:11
