Sensex, Nifty Seen Higher At Open

RTTNews | 107 days ago

(RTTNews) - Indian shares look set to open slightly higher on Monday as investors react to positive global cues and the return of foreign inflows.

Last week, benchmark indexes Sensex and Nifty extended gains for the sixth consecutive week to hit fresh record highs following robust earnings from Tata Consultancy Services.

The next set of quarterly results may influence sentiment, with IT majors Infosys and Wipro as well as heavyweights including Reliance Industries, Asian Paints and UltraTech Cement among the prominent companies due to unveil their financial results in the truncated week ahead.

Stock markets will remain closed on Wednesday for Muharram.

Finance Minister Nirmala Sitharaman will present the highly anticipated Modi 3.0's first Union Budget on July 23, with analysts expecting a growth-oriented Budget to help the economy grow further.

It is conceivable that India can become the world's second-largest economy by 2031 and the largest economy by 2060, given the country's inherent strengths, said Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra last week.

Asian markets traded mixed this morning while the dollar rose as the attempted assassination of Donald Trump on Saturday helped increase the chances of him becoming president again. Gold edged down slightly while oil prices were marginally higher in Asian trade.

U.S. stocks ended higher on Friday as large-cap stocks rebounded from steep losses in the previous session on expectations of Fed rate cuts.

Investors shrugged off data that showed U.S. producer prices increased slightly more than expected in June amid a rise in the cost of services.

The three major U.S. averages rose about 0.6 percent each even as Wells Fargo, JP Morgan Chase and Citigroup all fell after releasing their quarterly earnings results. European stocks ended on a firm note for a third straight session on Friday.

The pan European STOXX 600 climbed 0.9 percent. The German DAX rallied 1.1 percent, France's CAC 40 jumped 1.3 percent and the U.K.'s FTSE 100 rose 0.4 percent.

Dollar Loses Ground Against Major Counterparts After GDP Data

The U.S. dollar shed ground on Wednesday after data showed an unexpected slowdown in the nation's GDP growth. Investors also digested strong private sector employment data and looked ahead to the crucial non-farm payroll data due later in the week.

RTTNews | 4h 45min ago

Canadian Market Slightly Lower In Cautious Trade

Canadian stocks are turning in a mixed performance on Wednesday with investors largely reacting to earnings announcements, and U.S. economic data. Materials stocks are among the notable losers, while consumer staples and utilities shares are finding good support.

RTTNews | 6h 52min ago

German Inflation Climbs More Than Expected Dampening Bigger Rate Cut Hopes

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RTTNews | 7h 20min ago

Swiss Market Ends Notably Lower

The Switzerland market ended notably lower on Wednesday after languishing in negative territory right through the day's session, as investors reacted to weak economic data, digested a slew of corporate earnings announcements, and looked ahead to some key U.S. economic data due later in the week.

RTTNews | 7h 38min ago

U.S. Dollar Retreats As GDP Growth Slows

The U.S. dollar pulled back against its major counterparts in the New York session on Wednesday, as a slowdown in GDP growth outweighed optimism about strong ADP data.

RTTNews | 7h 49min ago

European Stocks Close Lower As Investors React To Economic Data, Earnings Updates

European stocks closed weak on Wednesday, with investors reacting to a slew of economic data from the region, the UK budget, and corporate earnings updates, in addition to closely tracking U.S. economic data and following the developments on the geopolitical front.

RTTNews | 7h 55min ago

U.S. Pending Home Sales Spike Much More Than Expected In September

Pending home sales in the U.S. spiked by much more than expected in the month of September, according to a report released by the National Association of Realtors on Wednesday. NAR said its pending home sales index soared by 7.4 percent to 75.8 in September after climbing by 0.6 percent to 70.6 in August. Economists had expected pending home sales to jump by 1.1 percent.

RTTNews | 11h 3min ago

GSK Q3 Results Down, Sees FY24 Outlook At Mid Range; Stock Drops

Shares of GSK plc were losing more than 4 percent on the London Stock Exchange as well as in the early morning trading on the NYSE after the British drug maker reported Wednesday sharply lower profit in its third quarter on $2.3 billion charge on Zantac settlement, as well as weak revenues. Further, GSK confirmed its fiscal 2024 outlook for earnings, core profit and sales.

RTTNews | 11h 35min ago

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