Sensex, Nifty To Open On Cautious Note
(RTTNews) - Indian shares may open a tad lower on Thursday after Chinese data on factory output, fixed-asset investment and retail sales all came in below economists' forecasts.
Asian markets are trading mixed and the dollar held steady ahead of the U.S. consumer inflation data due out later in the day while oil held onto overnight gains.
The Bank of England announces its rate decision later today amid a backdrop of soaring inflation and low unemployment.
U.S. stocks eked out modest gains on Wednesday to set new closing highs as oil prices rose and retailer Target issued a strong hiring forecast, helping offset concerns over Apple's new iPhone X.
The Dow rose 0.2 percent, while the Nasdaq Composite and the S&P 500 inched up around 0.1 percent each.
European markets finished mixed on Wednesday amid a sharp decline in chipmakers and mining stocks. The pan-European Stoxx Europe 600 index closed little changed with a negative bias.
Closer home, benchmark indexes Sensex and the Nifty ended on a flat note on Wednesday after the release of dismal industrial output and retail inflation data. However, the rupee logged its first gain in three days to end up 4 paise at 64 against the dollar.
State-owned oil marketing companies could be in focus today after oil minister Dharmendra Pradhan ruled out government intervention to disrupt the daily fuel revision in view of the spike in rates due to factors like hurricane in the U.S.
Telecom equipment maker Ericsson has filed an insolvency petition against Reliance Communications in the National Company Law Tribunal to recover unpaid dues of Rs 1,150 crore.
IndiGo parent InterGlobe Aviation said it would conduct a share sale to institutional investors on Friday to raise as much as Rs 39.45 billion ($616 million).
Tata Chemicals said it is in advanced stages of negotiations to sell its phosphatic fertilizer business to Singapore's Indorama Corp for Rs 400-500 crore.