Indian shares look set to open a tad higher on Thursday despite mixed global cues and weak trade data showing that India’s trade deficit more than doubled in August over the same month a year ago.
Benchmark indexes Sensex and the Nifty dropped around 0.4 percent each on Wednesday while the rupee fell by 35 paise to close at 79.52 against the dollar on hawkish Fed outlook.
Asian markets traded mixed this morning after Wall Street’s main indexes ended a directionless session higher overnight.
The dollar held firm and oil prices rose on potential supply disruptions while gold traded weak below $1,700 per ounce ahead of a slew of U.S. economic data due later in the day, including reports on weekly jobless claims, retail sales and industrial production.
U.S. stocks eked out modest gains overnight after a market rout the previous day on Fed worries. A measure of producer prices fell for a second straight month in August, helping stocks recover from their worst sell-off in more than two years.
The Dow finished marginally higher, the S&P 00 rose 0.3 percent and the tech-heavy Nasdaq Composite added 0.7 percent.
European stocks fell for a second straight session on Wednesday amid lingering uncertainty surrounding the outlook for inflation and rate hikes.
The pan European Stoxx 600 shed 0.9 percent. The German DAX lost 1.2 percent, France’s CAC 40 index dipped 0.4 percent and the U.K.’s FTSE 100 gave up 1.5 percent.
Market Analysis
Sensex, Nifty Seen Tad Higher At Open
2022-09-15 03:08:35
