logo
  

Sensex, Nifty Poised For Flat Opening

Indian shares look set to open on a flat note Thursday amid anxiety about rising inflation globally and ahead of the expiry of monthly F&O contracts.

Meanwhile, India's GDP will likely show an annual growth of 7.8 percent in the July-September period, economists at HDFC Bank said ahead of the official GDP print due on November 30.

Market heavyweight Reliance Industries could be in focus after the company said its board has decided to implement a scheme of arrangement to transfer gasification undertaking into a wholly-owned subsidiary.

Benchmark indexes Sensex and the Nifty fell about half a percent each on Wednesday while the rupee settled 2 paise higher at 74.40 against the dollar, snapping a three-day losing streak.

Asian markets were mixed this morning while the dollar traded at its highest in over a year to the euro and near a five-year high against the yen.

Oil prices ticked lower as investors waited to see how producers respond to the emergency crude release by major consuming countries.

U.S. stocks ended mostly higher overnight as a batch of strong economic data helped investors shrug off concerns over rising Treasury yields.

Minutes from the November Fed meeting showed members were concerned about inflation and willing to tighten policy if inflation continues to run high.

The tech-heavy Nasdaq Composite rose 0.4 percent and the S&P 500 inched up 0.2 percent while the Dow finished marginally lower.

European stocks ended mixed on Wednesday, with political developments in Germany and fresh coronavirus lockdowns weighing on investors' minds.

The pan European Stoxx 600 ended flat with a positive bias. The German DAX dropped 0.4 percent and France's CAC 40 slipped marginally while the U.K.'s FTSE 100 edged up 0.3 percent.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT