Indian shares may open on a tepid note Monday as investors fret about higher interest rates in the U.S. and a possible recession.
Adani Group stocks would continue to remain in focus after Moody’s Investors Service downgraded four Adani stocks from ‘stable’ to ‘negative.’
According to a Bloomberg report, the group halved its revenue growth target and scaled down capital expenditure plans in an attempt to rebuild investor confidence.
Asian markets were broadly lower this morning as investors looked ahead to the release of U.S. inflation, retail sales and industrial production data this week for additional clues on the rate outlook.
Geopolitical tensions also remain on investors’ radar after the U.S. air force shot down a flying object near the Canadian border, the fourth object downed this month.
The dollar and yields on 10-year Treasuries hovered near five-week highs, while oil and gold prices were moving lower in Asian trading.
U.S. stocks ended mixed on Friday, as higher long-dated bond yields on data showing improved consumer sentiment and a rebound in near-term inflation expectations weighed on technology stocks.
The Dow rose half a percent and the S&P 500 edged up 0.2 percent while the tech-heavy Nasdaq Composite shed 0.6 percent.
European stocks closed lower on Friday as investors assessed the outlook for economic growth, inflation and interest rates.
The pan European STOXX 600 fell 1 percent as the Bank of England warned that Britain would likely enter a shallow but lengthy recession.
The German DAX lost 1.4 percent, France’s CAC 40 index gave up 0.8 percent and the U.K.’s FTSE 100 slipped 0.4 percent.
Market Analysis
Sensex, Nifty Seen Tad Lower On Mixed Global Cues
2023-02-13 02:36:25
