Sensex, Nifty Set To Fall On US Recession Fears

RTTNews | 806 days ago
Sensex, Nifty Set To Fall On US Recession Fears

(RTTNews) - Indian shares look set to open lower on Thursday after a slew of data showed the U.S. economy was rapidly losing momentum towards the end of last year.

Private sector banks could be in focus today after IndusInd Bank beat forecasts with a 53 percent rise in Q3 profit.

Benchmark indexes Sensex and Nifty climbed around 0.6 percent each on Wednesday to extend gains for a second day running while the rupee gained 4 paise to close at 81.25 against the dollar.

Asian markets traded mostly lower this morning on fears the U.S. economy may fall into recession in the first half of this year.

The dollar rose against a basket of currencies as risk-aversion gripped global markets. Gold and oil prices were slightly lower on dollar strength. U.S. 10-year Treasury yields stabilized after falling to a four-month low on Wednesday.

U.S. stocks reversed course to end sharply lower overnight, as investors reacted to weak economic data and comments from St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester expressing support for raising rates beyond 5 percent.

Retail sales, producer prices and production at U.S. factories fell more than expected in December, rekindling concerns over the outlook for growth and corporate earnings.

The Dow plunged 1.8 percent, the tech-heavy Nasdaq Composite lost 1.2 percent and the S&P 500 shed 1.6 percent.

European stocks ended mixed on Wednesday, as China ramped up COVID preparations ahead of the Lunar New Year holidays and data showed inflation in the United Kingdom eased further for the second consecutive month.

The pan European STOXX 600 rose 0.2 percent to extend its winning streak for a sixth straight session as IMF chief said growth will bottom out in 2023.

The German DAX finished marginally lower and the U.K.'s FTSE 100 slipped 0.3 percent while France's CAC 40 index ended flat with a positive bias.

read more
South Korea Stock Market May Extend Losing Streak

South Korea Stock Market May Extend Losing Streak

The South Korea stock market has moved lower in two straight sessions, sinking almost 35 points or 1.4 percent along the way. The KOSPI now rests just above the 2,485-point plateau and it's likely to open under pressure again on Friday.
RTTNews | 4h 30min ago
Swiss Market Ends Sharply Lower On Tariff Woes

Swiss Market Ends Sharply Lower On Tariff Woes

Swiss stocks fell sharply on Thursday, in line with equities across the globe, as U.S. President Donald Trump's sweeping tariff announcement fueled inflation and growth concerns, prompting investors to exit counters.
RTTNews | 10h 12min ago
Canadian Market Down Sharply On Heavy Selling As Trump's Tariffs Hurt Sentiment

Canadian Market Down Sharply On Heavy Selling As Trump's Tariffs Hurt Sentiment

Canadian stocks are deep down in the red on Thursday, hurt by U.S. President Donald Trump's sweeping tariff announcement that is likely to trigger a global trade war, which could push up inflation and hinder economic growth. The benchmark S&P/TSX Composite Index, which crashed to 24,429.24, losing about 880 points, was down 737.43 points or 2.91% at 24,569.75 a little while ago.
RTTNews | 11h 23min ago
U.S. Services Index Drops To Nine-Month Low In March

U.S. Services Index Drops To Nine-Month Low In March

U.S. service sector growth slowed by more than anticipated in the month of March, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI fell to 50.8 in March after inching up to 53.5 in February. While a reading above 50 still indicates growth, economists had expected the index to show a more modest decrease to 53.0.
RTTNews | 13h 10min ago
U.S. Trade Deficit Shrinks From Record High As Exports Surge

U.S. Trade Deficit Shrinks From Record High As Exports Surge

The Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed in the month of February after soaring to a record high in January. The report said the trade deficit decreased to $122.7 billion in February after spiking to a revised $130.7 billion in January.
RTTNews | 13h 15min ago