By RTT News, October 17, 2013, 11:02:00 PM EDT
(RTTNews.com) - Indian shares may follow Asian markets higher on Friday on speculation that short-term fiscal uncertainties in Washington would delay a stimulus tapering. The dollar is languishing near an eight-month low versus the dollar while gold is trading near one week-high.
Investors are now looking to the release of the crucial nonfarm payrolls report to be released on Tuesday and next Fed policy meeting scheduled for Oct. 29-30 for clues to when the U.S. central bank would begin reducing its $85 billion-a-month bond purchase program. The U.S. employment report was originally scheduled for release on October 4.
Meanwhile, a batch of data out of China released today largely met market expectations. China's GDP expanded 7.8 percent year-over-year in July-September, snapping two quarters of slowing growth, official data showed.
U.S. crude futures are marginally higher above $100 a barrel after falling to their lowest level in more than three months in the previous session on demand concerns as industry data showed crude oil stockpiles to have jumped more than expected last week.
Indian shares fell on Thursday, with IT stocks pacing the decliners on profit taking following recent sharp gains. The benchmark Sensex ended a choppy session down 132 points or 0.64 percent at 20,416, while the broader Nifty index fell 43 points or 0.71 percent to 6,046.
Foreign institutional investors remained net buyers in Indian equities and bought shares worth a whopping Rs. 1,109.93 crore yesterday, while domestic financial institutions offloaded shares to the extent of Rs.1,149.21 crore, provisional data showed.
<b>U.S. And European Markets </b>
U.S. stocks ended mixed overnight, as investors digested mixed earnings reports and data on jobless claims and manufacturing activity in the Philadelphia region. Since the debt-ceiling talks are likely to continue through the year, most economists expect the Federal Reserve to maintain its asset purchase program for the foreseeable future. The Dow ended the day just below the unchanged line, while the tech-heavy Nasdaq and the S&P 500 rose 0.6 percent and 0.7 percent, respectively.
European stocks turned in a mixed performance on Thursday after a last-minute deal to keep the United States from defaulting on its debt suggested the fiscal fight could start all over early next year. The U.K.'s FTSE 100 edged up 0.1 percent, but France's CAC 40 slipped 0.1 percent and the German DAX shed 0.4 percent.
For comments and feedback: contact email@example.com