Indian shares may open on a positive note Thursday, with earnings optimism and expectations of dovish policy from the Reserve Bank of India likely to help underpin investor sentiment.
On the earnings front, Titan reported a whopping 97 percent fall in quarterly profit, but still beat estimates. Adani Green Energy posted nearly 10-fold jump in its consolidated net profit for the June quarter, while HPCL’s quarterly profit fell 36 percent from last year because of lower crude throughput.
Benchmark indexes Sensex and the Nifty jumped around 1 percent and 0.8 percent, respectively on Wednesday to close at record high levels, while the rupee rose by 9 paise to close at 74.19 against the dollar, extending gains for the third straight session.
Asian markets held steady this morning, while Treasury yields advanced and the dollar held a climb after Vice Chairman Richard Clarida painted an upbeat picture of the economic outlook and backed expectations for higher interest rates in 2023.
Gold dipped after a measure of U.S. services industry activity jumped to a record high in July. Oil edged up slightly after a three-day slump exacerbated by the coronavirus resurgence and data showing an unexpected in crude inventories last week.
U.S. stocks ended broadly lower overnight, as private sector employment numbers came in below expectations, Clarida issued a hawkish forecast and General Motors reported second quarter earnings that missed expectations.
The Dow dipped 0.9 percent and the S&P 500 shed half a percent while the tech-heavy Nasdaq Composite edged up 0.1 percent.
European stocks reached record highs on Wednesday, as optimism over the economic recovery and earnings growth outweighed concerns over the spread of the Delta variant in China.
The pan-European Stoxx 600 Index gained 0.6 percent. The German DAX climbed 0.9 percent while France’s CAC 40 index and the U.K.’s FTSE 100 both rose about 0.3 percent.
Sensex, Nifty Seen Tad Higher At Open
2021-08-05 02:58:05
