Sensex, Nifty Set To Extend Losses

Indian shares look set to extend recent losses on Friday, tracking weak global markets as concerns lingered over the Federal Reserve's tightening, U.S.-Russian tensions over Ukraine continued to simmer and Netflix missed a subscriber estimate in its earnings.

Domestic earnings would also remain in focus, with Asian Paints, Hindustan Unilever, Havells India, Container Corp of India and Shoppers Stop among the companies unveiling their quarterly results post market hours on Thursday.

Market heavyweight Reliance Industries will declare its quarterly earnings results later today.

Benchmark indexes Sensex and the Nifty fell over 1 percent each on Thursday to extend loses for the third straight session while the rupee slipped 7 paise to close at 74.51 against the dollar.

Asian markets were broadly lower this morning after a late-day reversal on Wall Street overnight. Geopolitical tensions were in focus after reports that Washington is allowing some Baltic states to send U.S.-made weapons to Ukraine.

The dollar fluctuated and Treasury yields declined along the curve, while oil dipped from 7-year highs after a surprise gain in U.S. crude stockpiles. Bitcoin hovered near $40,000 levels.

Gold steadied and headed for a second weekly gain as investors anxiously await next week's Fed meeting for any updates on the existing plans for rate hikes.

U.S. stocks gave up early gains to end lower for the third straight session on Thursday amid concerns around rising bond yields and tighter monetary policy.

The Dow dropped 0.9 percent, the tech-heavy Nasdaq Composite lost 1.3 percent and the S&P 500 shed 1.1 percent.

European stocks finished broadly higher on Thursday as minutes from the December ECB meeting confirmed the dovishness that some members have been touting for the last few days.

The pan European Stoxx 600 rose half a percent. The German DAX gained 0.7 percent and France's CAC 40 index added 0.3 percent while the U.K.'s FTSE 100 edged down marginally.

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