Indian shares look set to open higher on Friday as strong U.S. data released overnight helped ease recession worries and China once again eased its monetary policy, this time by cutting is reserve requirement ratio for banks by 0.25 percent to boost its shuttering economy.
Benchmark indexes Sensex and Nifty ended a choppy session marginally higher on Thursday while the rupee fell by 2 paise to close at 83.03 against the dollar.
Asian markets advanced this morning as government data showed China’s retail sales and industrial production picked up pace in August with better-than-expected growth.
The dollar retained overnight gains while crude prices held near their highest level since early-November 2022.
U.S. stocks posted strong gains overnight as investors cheered better-than-expected retail sales data and the blowout debut of chip designer Arm.
A batch of economic data showed an uptick for producer price inflation, solid retail sales and an uptick in weekly jobless claims.
The Dow gained 1 percent to notch its biggest gain in a month, while the tech-heavy Nasdaq Composite and the S&P 500 both rose around 0.8 percent.
European stocks rose sharply on Thursday after the European Central Bank (ECB) piled on a 10th straight interest-rate increase but signaled a potential end to its rate-hike campaign aimed at curbing inflation.
The pan European STOXX 600 advanced 1.5 percent. The German DAX rallied 1 percent, France’s CAC 40 jumped 1.2 percent and the U.K.’s FTSE 100 soared 2 percent.
Sensex, Nifty Set To Follow Global Peers Higher
2023-09-15 02:33:31
