Indian shares look set for another choppy session on Wednesday as investors react to a steady rise in Covid-19 cases in the country and prospects of fresh lockdowns.
Benchmark indexes Sensex and the Nifty ended a choppy session slightly lower on Tuesday while the rupee dropped 9 paise to settle at 72.55 against the dollar, snapping a four-day winning streak.
Asian stocks remain broadly lower this morning, gold edged lower on a stronger dollar and Treasury yields continued to hover near their highest in over a year as investors await the outcome of Federal Reserve’s meeting. Oil held steady after industry data pointed to shrinking U.S. crude and gasoline stockpiles.
U.S. stocks ended mixed overnight as retail sales and industrial production data disappointed and Treasury yields saw considerably volatility ahead of the Fed’s guidance on inflation and interest rates.
The Dow dropped 0.4 percent and the S&P 500 dipped 0.2 percent while the tech-heavy Nasdaq Composite edged up 0.1 percent.
European stocks rose on Tuesday as an upbeat forecast from German carmaker Volkswagen outweighed broad worries about the rollout of Covid-19 vaccines in Europe.
The pan European Stoxx 600 gained 0.9 percent. The German DAX climbed 0.7 percent, France’s CAC 40 index inched up 0.3 percent and the U.K.’s FTSE 100 added 0.8 percent.
Indian Shares Set To Open On Muted Note
2021-03-17 03:00:35
