Indian shares are likely to open on a flat note Thursday, tracking mixed global cues and amid concerns over the impact of rising oil prices on the domestic economy.
Brent crude futures hit $75 for the first time since Aug. 2 after a larger-than-expected drawdown in crude oil stocks in the United States.
PSU stocks could be in focus today after the government announced that it will sell up to 10 percent stake in Hindustan Copper via an offer for sale.
Benchmark indexes Sensex and the Nifty surged around 0.8 percent on Wednesday to hit record highs, while the rupee settled 18 paise higher at 73.50 against the dollar after two days of downward swing.
Asian markets fell broadly this morning as investors digested trade data out of Japan and jobs data from Australia.
Tighter regulations for Macau’s casino operators and the developments in cash-strapped developer China Evergrande Group also remained on investors’ radar.
U.S. stocks ended firmly in positive territory overnight as oil clung to gains and data showed industrial production in the country reached pre-pandemic levels in August, despite persistent supply constraints and shutdowns related to hurricane Ida.
The Dow rose 0.7 percent, the tech-heavy Nasdaq Composite rallied 0.8 percent and the S&P 500 climbed 0.9 percent.
European stocks fell notably on Wednesday as investors reacted to economic data out of the U.K. and China.
The pan European Stoxx 600 declined 0.8 percent. The German DAX shed 0.7 percent, France’s CAC 40 index lost 1 percent and the U.K.’s FTSE 100 eased 0.3 percent.
Market Analysis
Sensex, Nifty Seen Opening On Flat Note
2021-09-16 02:51:59
