Indian shares are seen opening on a firm note Thursday after Nvidia, the world’s most valuable chipmaker, beat estimates for its fiscal second quarter and issued optimistic guidance for the current period.
Adani Group stocks could be in focus today after the Group posted record profit in the quarter ended June on the back of its infrastructure and renewable energy businesses.
Meanwhile, vegetable prices in the country have started softening and there will be an appreciable slowdown from September, RBI Governor Shaktikanta Das said.
Benchmark indexes Sensex and Nifty eked out modest gains in cautious trade on Wednesday while the rupee climbed 25 paise to close at 82.69 against the dollar – posting its biggest single-day gain in two months.
Foreign institutional investors bought Indian equities worth about Rs. 614.32 crore on Wednesday after being sellers for the last four straight sessions, stock exchange data showed.
At the same time, domestic institutional investors continued their buying streak for the fourth session and bought shares worth Rs. 125.03 crore.
Asian markets followed Wall Street higher this morning, as a retreat in U.S. bond yields on the back of a round of soft surveys on manufacturing helped ease concerns over rising borrowing costs.
The dollar slipped while gold held near two-week highs as investors await comments from central bankers at the Jackson Hole Symposium later in the week.
The symposium features a speech by Federal Reserve Chair Jerome Powell. Oil extended overnight losses on fuel demand concerns.
U.S. stocks rose sharply overnight, with technology stocks leading the surge as the ten-year yield pulled back further off highest levels in well over fifteen years.
Economic reports painted a mixed picture of the world’s largest economy, with activity in both the U.S. manufacturing and service sectors contracting more than expected in August while new home sales reached a 17-month high in July.
The tech-heavy Nasdaq Composite rallied 1.6 percent, the S&P 500 climbed 1.1 percent and the Dow rose half a percent.
European stocks closed broadly higher on Wednesday despite underwhelming PMI data from the region.
The pan European STOXX 600 gained 0.4 percent. The German DAX edged up 0.2 percent, France’s CAC 40 finished marginally higher and the U.K.’s FTSE 100 added 0.7 percent.
Business News
Sensex, Nifty Set To Follow Global Peers Higher
2023-08-24 02:31:30
