Markets

Sensex, Nifty Seen Flat To Lower

(RTTNews) - Indian shares may open flat to slightly lower on Friday as Sino-U.S. trade tensions weigh. Underlying sentiment may remain supported somewhat after finance minister Nirmala Sitharaman sought parliamentary approval for gross additional expenditure of Rs. 21,246 crore, part of which will be used to recapitalize IDBI Bank and state-run insurance companies.

Also, with the slowdown in economic growth, the Reserve Bank of India is expected to cut its key interest rate for the sixth consecutive time at its meeting next week. Investors await GDP data due out later in the day for further direction.

Benchmark indexes Sensex and the Nifty extended their bull run on Thursday to reach fresh record closing highs on expectations that growth will recover over the next few quarters on the back of various measures announced by the Modi government.

The BSE Sensex rose 0.3 percent while the Nifty index gained 0.4 percent on the day of November series futures and options (F&O) contract expiry. The rupee dropped by 27 paise to close at 71.62 against the U.S. dollar, snapping its two-day winning streak.

Asian markets are trading mixed this morning after China warned the U.S. it would take "firm counter measures" in response to U.S. legislation backing anti-government protesters in Hong Kong.

The dollar headed for its highest weekly finish against the Japanese yen since May while gold remained on course for its worst month in three years. Oil held steady and headed for its fourth weekly gain ahead of a meeting of OPEC and its allies next week.

European markets pulled back from near four-year highs on Thursday amid concerns that a new U.S. law calling for support for pro-democracy protesters in Hong Kong could undermine negotiations on a trade deal.

The Thanksgiving holiday in the United States also kept investors on the sidelines.

The pan-European Stoxx 600 edged down 0.15 percent. The German DAX shed 0.3 percent, while France's CAC 40 index and the U.K.'s FTSE 100 rose around 0.2 percent.

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