Indian shares are seen opening lower on Thursday, a day after key benchmark indexes scaled two-week closing highs. Investors await more quarterly earnings reports, with ITC and Titan due to report their financial results later in the day.
Benchmark indexes Sensex and the Nifty jumped around 1.2 percent each on Wednesday, with banks and non-banking finance companies leading the surge. The rupee pared initial gains to settle flat at 74.83 against the greenback.
Asian markets were mostly lower in thin holiday trade this morning on concerns about global growth and the intensifying crisis in Ukraine.
The dollar held firm on safe-haven demand ahead of central bank meetings in Britain and Europe, while oil prices eased as the OPEC+ group decided to stick to its planned output increase.
Gold held above $1,800 per ounce as U.S. Treasury yields retreated after a report from payroll processor ADP showed a sharp pullback in U.S. private sector employment in the month of January.
U.S. stock futures declined, with the Nasdaq futures tumbling nearly 2 percent, after Facebook owner Meta said it was expecting current-quarter revenue below analysts’ expectations.
U.S. stocks extended a rally to a fourth day on Wednesday, as Google and AMD’s strong quarterly results outweighed disappointing private employment data.
The Dow rose 0.6 percent, the tech-heavy Nasdaq Composite gained half a percent and the S&P 500 added 0.9 percent.
European stocks ended broadly higher on Wednesday despite a measure of Eurozone inflation hitting a record high in January.
The pan European Stoxx 600 gained half a percent. The German DAX finished marginally lower, while France’s CAC 40 index inched up 0.2 percent and the U.K.’s FTSE 100 climbed 0.6 percent.
Sensex, Nifty Set For Weak Start On Weak Asian Cues
2022-02-03 02:58:37
