Indian shares are seen opening little changed on Thursday, with high volatility expected later in the day on eve of derivative expiry.
Benchmark indexes Sensex and the Nifty hit fresh record highs on Wednesday before giving up all gains to end the session on a flat note. The rupee dropped five paise to close at 74.24 against the dollar.
Asian markets were broadly lower this morning and the dollar hovered near a one-week low versus major peers as traders awaited more clues about the regulatory outlook in China as well as the Fed’s Jackson Hole meeting.
The South Korean won strengthened after the country’s central bank raised its base interest rate, making the nation the first major Asian economy to start exiting record-low borrowing costs.
Oil prices dipped for the first time in four sessions as virus concerns returned to haunt investors. Gold fell below $1,800 while Bitcoin traded around $49,000.
U.S. stocks closed higher overnight amid continued optimism about growth after Dr. Anthony Fauci, top U.S. infectious disease expert, said COVID-19 could be under control by early next year.
Orders for long-lasting goods fell in July due to weakness in transport-related goods, but demand was strong in other parts of the economy, official data showed.
The S&P 500 and the tech-heavy Nasdaq Composite both edged up around 0.2 percent to reach fresh record highs while the Dow inched up 0.1 percent.
European stocks ended mostly higher on Wednesday as travel stocks extended gains for the fourth day running. The pan European Stoxx 600 ended flat with a positive bias.
The German DAX eased 0.3 percent after the release of weak business sentiment data, while France’s CAC 40 index gained 0.2 percent and the U.K.’s FTSE 100 added 0.3 percent.
Market Analysis
Sensex, Nifty Poised For Flat Opening
2021-08-26 02:56:37
