Sensex, Nifty Seen Tad Higher At Open

(RTTNews) - Indian shares are likely to see modest gains at open on Thursday, though volatility cannot be ruled out due to surging oil prices and elevated bond yields on concerns about further U.S. rate hikes.

Investors may also react to news that market regulator SEBI is considering the possibility of extending trading hours for the cash market to align with global markets and accommodate market-moving news.

Benchmark indexes Sensex and Nifty reversed early losses to end up around 0.3 percent each on Wednesday, while the rupee ended 6 paise higher at 83.22 against the dollar, snapping a two-day losing streak.

Asian markets were mixed this morning, with shares of China Evergrande Group suspended in Hong Kong after a report its chairman had been placed under police surveillance.

The dollar index held steady after touching the highest level since November. Gold was marginally lower while oil extended overnight rally to inch closer to the $100-a-barrel mark.

U.S. stocks fluctuated before closing narrowly mixed overnight, as an unexpected increase in August durable goods orders alongside surging yields and oil prices added to concerns around inflation and interest rates. While the benchmark 10-year Treasury yield hit its highest levels since 2007, WTI crude futures reached a 13-month high on data showing that crude stockpiles in the largest U.S. storage hub dropped to the lowest since July 2022.

The Dow slipped 0.2 percent to hit a fresh three-month closing low, while the S&P 500 finished marginally higher and the tech-heavy Nasdaq Composite added 0.2 percent.

European stocks closed at six-month low on Wednesday as investors fretted about the outlook for inflation, interest rates and economic growth.

The pan European STOXX 600 slid 0.2 percent. The German DAX eased 0.3 percent and the U.K.'s FTSE 100 shed 0.4 percent while France's CAC 40 ended flat with a negative bias.

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

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.