Indian shares look set to open on a cautious note Monday, with foreign investment trends, rupee-dollar movements and the scheduled F&O series expiry on June 29 likely to influence trading in the holiday shortened week.
Stock exchanges BSE and NSE will be closed on Wednesday on account of Bakri Id.
In a recent interview, RBI Governor Shaktikanta Das exuded confidence that the Indian economy will grow at 6.5 percent in FY24 and that the central bank will strive to get headline inflation down to its 4 percent target.
Asian markets were broadly lower this morning as weak PMI data coming out of Europe and the U.S. raised concerns about a deep downturn in major economies.
Gold and oil prices were slightly higher on a weaker dollar as traders monitored developments in Russia.
A clash between Moscow and Russian mercenary group Wagner was averted after the heavily armed mercenaries withdrew from the southern Russian city of Rostov under a deal that halted their rapid advance on Moscow.
U.S. stocks ended lower on Friday amid worries that more interest rate hikes by the Federal Reserve would tip the world’s largest economy into a recession.
The tech-heavy Nasdaq Composite tumbled 1 percent to snap an eight-week winning streak and post its worst weekly performance since March.
The S&P 500 declined 0.8 percent to snap five consecutive weeks of gains while the Dow declined 0.7 percent to end a three-week positive run.
European stocks also ended Friday’s session lower on fears that recession in the U.S. and Europe along with delayed stimulus from China will spell trouble for the global growth outlook.
The pan European STOXX 600 slipped 0.3 percent. The German DAX lost 1 percent, France’s CAC 40 shed 0.6 percent and the U.K.’s FTSE 100 gave up half a percent.
Sensex, Nifty Likely To See Cautious Start On Weak Global Cues
2023-06-26 02:28:30
