Sensex, Nifty Set To Follow Global Peers Lower Ahead Of US Jobs Data
(RTTNews) - Indian shares may follow global peers lower on Friday, as investors assess the outlook for global economic growth and interest rates.
Risk aversion has deepened further as investors await the release of U.S. jobs data later in the day and next week's inflation figures for directional cues.
Benchmark indexes Sensex and Nifty fell around 0.9 percent each on Thursday while the rupee ended down 11 paise at 82.06 against the dollar.
Asian markets fell across the board this morning, as the rout in equities on signs of trouble in the U.S. banking sector spurred demand for safe-haven assets. Gold edged higher as the dollar rally lost steam on data showing a rise in jobless claims in the United States. Oil prices were little changed after three consecutive sessions of losses.
U.S. stocks tumbled overnight as Silicon Valley Bank's surprise decision to sell much of its bond portfolio at a loss prompted concerns about the value of U.S. banks' bond portfolios.
The Dow fell 1.7 percent to its lowest closing level in four months while the tech-heavy Nasdaq Composite lost 2.1 percent and the S&P 500 shed 1.9 percent.
European stocks closed slightly lower on Thursday as weaker-than-expected data from China pointed to a sluggish economic recovery in the country.
The pan European STOXX 600 eased 0.2 percent. The German DAX ended flat with a positive bias, while France's CAC 40 index slipped 0.1 percent and the U.K.'s FTSE 100 dropped 0.6 percent.
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