Indian shares are seen opening on a flat note Thursday as the Covid-19 surge continue to sweep across the country, driven by the Omicron variant.
India reported 282,970 new infections on Wednesday, the highest in eight months.
World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said “This pandemic is nowhere near over.”
Benchmark indexes Sensex and the Nifty fell around 1 percent each on Wednesday while the rupee settled 14 paise higher at 74.44 against the dollar, logging its 1st gain in four days.
Most Asian markets rose this morning as a rally in bond yields stalled and Chinese lenders lowered borrowing costs for a second straight month.
The dollar rally paused while gold continued to crawl higher after marking its best session in three months a day earlier to hit a two-month high.
Oil prices slipped in Asian trade after industry data showed U.S. crude and gasoline stocks rose last week.
U.S. stocks ended in the red for the second straight session on Wednesday after U.S. Treasury yields hit fresh two-year highs amid Fed rate hike expectations.
The Dow and the S&P 500 dropped around 1 percent each, while the tech-heavy Nasdaq Composite shed 1.2 percent to close in correction territory for the first time since last March.
European stocks closed slightly higher on Wednesday as investors grappled with the Covid-19 pandemic and the prospect of higher interest rates.
The pan European Stoxx 600 gained 0.2 percent. The German DAX inched up 0.2 percent, France’s CAC 40 index rose 0.6 percent and the U.K.’s FTSE 100 added 0.4 percent.
Market Analysis
Sensex, Nifty Seen Opening On Flat Note
2022-01-20 03:00:54
