Indian shares are likely to open higher on Thursday after the U.S. Federal Reserve kept interest rates near zero and avoided taking a hardline stance on tapering timeline.
On the earnings front, Colgate Palmolive, Container Corporation of India, Future Retail, Jindal Stainless, LIC Housing Finance, Tech Mahindra, TVS Motor Company and Union Bank of India are among the prominent companies that will unveil their financial results today.
Benchmark indexes Sensex and the Nifty ended modestly lower on Wednesday, reversing early gains. The rupee rose by nine paise to close at 74.37 against the greenback, snapping its two-day losing streak.
Asian markets were broadly higher this morning as authorities intensified efforts to calm market fears about a broad-based crackdown by regulators in Beijing.
The dollar hovered around a two-week low while oil held steady after a large inventory drawdown.
U.S. stocks ended mixed overnight as investors reacted to a slew of corporate earnings updates and Fed Chair Jerome Powell’s dovish presser.
Fed officials tried to strike a balance, discussing about how to go about scaling back bond buying when the time comes.
Powell said there was “more ground to make up” in the labor market to meet substantial further progress threshold to taper bond purchases.
The tech-heavy Nasdaq Composite index rose 0.7 percent after strong results from Apple, Alphabet and Microsoft, while the Dow shed 0.4 percent and the S&P 500 finished marginally lower.
European stocks rebounded Wednesday after two successive days of losses amid a busy day for corporate earnings.
The pan European Stoxx 600 advanced 0.7 percent. The German DAX edged up 0.3 percent, France’s CAC 40 index rallied 1.2 percent and the U.K.’s FTSE 100 rose 0.3 percent.
Sensex, Nifty Seen Up On Firm Asian Cues
2021-07-29 02:57:40
