Sensex, Nifty Set For Weak Open On Sluggish Asian Cues
(RTTNews) - Indian shares are likely to open on a weak note Friday, tracking sluggish cues from Asian peers as investors ponder over Donald Trump's tariff policies and look for more signals on the pace of future Federal Reserve interest rate cuts.
Traders may watch movements in the forex markets closely as Brazil's real tumbled to a record low on disappointment over a government plan to cut spending.
Meanwhile, the Bombay Stock Exchange said that it will revise the expiry day of Sensex, Bankex and Sensex 50 index derivatives contracts with effect from Jan 1.
Benchmark indexes Sensex and Nifty both fell around 1.5 percent each on Thursday, with profit booking after recent gains and volatility as a result of the expiry of monthly derivative contracts weighing on markets. The rupee fell by 9 paise to close at 84.49 against the dollar.
Asian markets were broadly lower this morning while the Japanese yen surged 1 percent to a six-week high after Tokyo inflation data exceeded estimates, sparking speculation of a Bank of Japan interest rate hike next month.
Australian bond yields fell across the curve as Reserve Bank Governor Michele Bullock warned of prolonged restriction monetary policy, saying inflation is "too high" to consider interest-rate cuts.
Gold traded higher near $2,650 levels in Asian trade while oil prices were little changed.
European stocks snapped two days of declines on Thursday, though trading volumes remained thin due to the Thanksgiving holiday in the U.S.
The pan European Stoxx 600 gained half a percent as Germany's annual inflation rate came in below economists' expectations in November, backing arguments for the European Central Bank to continue lowering interest rates.
The German DAX climbed 0.9 percent, France's CAC 40 added half a percent and the U.K.'s FTSE 100 edged up 0.1 percent.