Sensex, Nifty Seen Flat To Higher

(RTTNews) - Indian shares may open higher on Thursday, tracking firm cues from the U.S. and Europe. Underlying sentiment, however, may remain cautious ahead of a GST Council meeting and the monthly derivatives contracts expiry.

Benchmark indexes Sensex and the Nifty rose 0.6 percent and 0.7 percent, respectively on Wednesday as the government hinted at a fresh set of stimulus measures, once Covid-19 subsides.

Asian markets are trading mixed this mixed as investors await comments from U.S. Fed Chair Jerome Powell for more insight on the U.S. central bank's strategy on inflation and monetary policy.

Tensions between the U.S. and China continue to escalate, with China firing missiles into disputed territory in the South China Sea and the U.S. responding by blacklisting a number of Chinese officials accused of involvement in the South China Sea.

Gold held steady on a softer dollar after rising more than 1 percent in the previous session. Oil prices were mixed amid uncertainty over the pace of global economic recovery.

U.S. stocks rose overnight as a bigger than expected leap in durable goods orders for July pointed to an economic recovery and Moderna announced promising results from a small trial of its coronavirus vaccine candidate in elderly patients. \ The Dow Jones Industrial Average edged up 0.3 percent to a six-month closing high, while the tech-heavy Nasdaq Composite surged 1.7 percent and the S&P 500 climbed 1 percent to reach fresh record closing highs.

European stocks moved higher on Wednesday as Germany extended its coronavirus stimulus package and the French government said it would present its 100 billion euro stimulus plan next week.

The pan European Stoxx 600 advanced 0.9 percent. The German DAX climbed 1 percent, France's CAC 40 index rose 0.8 percent and the U.K.'s FTSE 100 edged up 0.1 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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