Sensex, Nifty Seen Tad Lower After Recent Gains

(RTTNews) - Indian shares may open slightly lower on Friday after three days of consecutive gains.

India's jobless rate for persons aged 15 years and above in urban areas declined to 7.2 percent during July-September 2022 from 9.8 percent a year ago, the National Statistical Office (NSO) said in a report.

Separately, RBI Deputy Governor Michael Debabrata Patra has said monetary policy can only hope to address future inflation, not today's inflation.

Benchmark indexes Sensex and Nifty jumped around 1.2 percent each on Thursday to hit record highs, with underlying sentiment boosted by falling oil prices, declining U.S. yields and a weakening dollar. The rupee rose by 23 paise to close at 81.70 against the greenback.

Asian markets traded mixed this morning as China reported another record high of daily COVID cases and tightened pandemic curbs across the country.

The dollar held near a three-month low and headed for a weekly loss while gold edged up and was on track for a small weekly gain.

Oil rose amid wrangling over Russian oil price cap but headed for a third weekly loss on China demand concerns.

U.S. markets were closed on Thursday for the Thanksgiving holiday.

European stocks hit fresh three-month highs amid signs the Fed may slow down the pace of interest rate hikes at upcoming meetings.

Meanwhile, the ECB's October meeting minutes suggested the central bank might 'pause' monetary tightening if there was a prolonged and deep recession.

The pan European STOXX 600 gained half a percent. The German DAX climbed 0.8 percent and France's CAC 40 index edged up 0.4 percent while the U.K.'s FTSE 100 ended little changed with a positive bias.

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


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.