Indian shares are seen opening lower on Friday after four days of gains. As the second wave of coronavirus sweeps through the country, more than 40 countries have committed to provide India with medical items and pharmaceutical products, foreign secretary Harsh Vardhan Shringla said on Thursday.

Breaking all records, India today reported a massive surge of 386,888 cases, according to the latest tally of online COVID-19 monitoring platform, Worldometers.

Traders will also react to the exit poll results for the assembly elections in Assam, Kerala, Tamil Nadu, Puducherry and West Bengal. The actual results will be declared on May 2.

Benchmark indexes Sensex and the Nifty pared early gains to end on a flat note Thursday, while the rupee rose by 29 paise to close at 74.07 against the U.S. dollar, extending gains for the fourth straight session.

Asian markets drifted lower this morning after the release of mixed Chinese and Japanese data. The U.S. dollar skidded toward a fourth straight weekly decline against peers, while oil dipped from a six-week high in Asian trade.

U.S. stocks rose overnight as traders digested upbeat economic data and strong earnings from tech giants Apple and Facebook.

U.S. economic growth accelerated in the first quarter and more Americans signed contracts to buy homes in March, while initial jobless claims dropped to a new pandemic-era low in the week ended April 24th, separate reports showed.

The S&P 500 climbed 0.7 percent to hit a new record closing high, while the Dow gained 0.7 percent and the tech-heavy Nasdaq Composite edged up 0.2 percent.

European stocks drifted lower on Thursday as investors reacted to a slew of upbeat earnings, downbeat data from Germany and rising bond yields despite the Fed’s pledge for an accommodative policy stance.

The pan European Stoxx 600 eased 0.3 percent. The German DAX shed 0.9 percent and France’s CAC 40 index slid 0.1 percent while the U.K.’s FTSE 100 ended largely unchanged.




Indian Shares May See Soft Start

2021-04-30 03:02:56

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