logo
Plus   Neg
Share
Email

Sensex, Nifty To Open Lower Amid Trade Tensions

Indian shares look set to open lower on Wednesday as investors monitor the latest developments on the U.S.-China trade front and await more set of corporate earnings from the likes of YES Bank, MindTree and Wipro.

Benchmark indexes Sensex and the Nifty rose for the second day running on Tuesday, while the rupee fell by 17 paise to settle at 68.71 against the dollar after the release of weak trade and business sentiment data.

Asian markets are trading lower this morning and the U.S. dollar got a lift from robust U.S. retail sales data released overnight while gold slid but still held above the $1,400 level.

West Texas Intermediate crude oil futures for August steadied in Asian deals after tumbling 3.3 percent to $57.62 a barrel on Tuesday, the lowest settlement since July 5, as Barry weakened to a tropical depression and U.S. Secretary of State Mike Pompeo said Iran was prepared to negotiate about its missile program.

U.S. stocks ended modestly lower overnight after President Trump threatened to impose tariffs on another $325 billion worth of Chinese goods, saying the U.S. still has a long way to go to conclude a trade deal with China.

While retail sales increased more than expected in June, JPMorgan Chase & Co and Wells Fargo & Co posted mixed set of quarterly results.

The Dow hit a new record intraday high before reversing direction to end the session down 0.1 percent. The tech-heavy Nasdaq slid 0.4 percent and the S&P 500 shed 0.3 percent.

European markets ended Tuesday's session higher as investors digested a slew of earnings reports.

The pan European Stoxx 600 advanced 0.4 percent. The German DAX rose 0.4 percent, France's CAC 40 index gained 0.7 percent and the U.K.'s FTSE 100 added 0.6 percent.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT