- Indian equities opened cautiously, assessing weak global signals.
- Indian indices declined, reacting to global cues, rising oil.
- Global markets mixed; crude oil rose, impacting investor sentiment.
Indian equity benchmark indices opened on a cautious note on Thursday, as investors assessed weak signals from GIFT Nifty, rising crude oil prices and mixed global cues. The focus is expected to remain on quarterly earnings, movements in international markets and institutional investment flows.
The BSE Sensex started the session more than 550 points down, testing 73,150, while the NSE Nifty50 tanked 200 points and inched closer to 22,600, around 9:15 AM.
GIFT Nifty Signals Cautious Start For Dalal Street
GIFT Nifty indicated a subdued start for domestic equities, with futures trading around 45 points lower and below the 22,700 mark in early deals.
At around 9:04 AM, the Sensex was trading at 73,682.21, down 27.48 points, or 0.04 per cent. The Nifty50 stood at 22,690.95, declining 120.40 points, or 0.53 per cent.
Investors are likely to track global market movements, crude oil prices and the latest corporate earnings announcements for cues on the direction of the market. Stock-specific activity could also influence trading as the September-quarter results season continues.
Asian Markets Trade Mixed
Asian equities opened on a mixed note on Thursday as investors assessed the latest global developments.
South Korea’s Kospi declined 0.67 per cent, while Japan’s Nikkei 225 edged up 0.19 per cent. Australia’s S&P/ASX 200 remained largely unchanged in early trade.
The mixed regional performance offered limited direction to domestic investors ahead of the trading session.
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Wall Street Ends Higher; US Futures Turn Lower
US equities closed higher on Wednesday, supported by gains in technology stocks.
The Nasdaq Composite advanced 1.05 per cent to close at 26,702.86, while the S&P 500 rose 0.58 per cent to settle at 7,757.17. The Dow Jones Industrial Average gained 360.21 points, or 0.69 per cent, ending the session at 52,856.09.
However, US stock futures were trading lower on Thursday. Dow Jones futures slipped 0.3 per cent, or around 170 points, while S&P 500 futures fell 0.5 per cent. Nasdaq-100 futures declined 0.7 per cent.
Crude Oil Prices Rise Above $110 Per Barrel
Crude oil prices advanced in early trade, keeping energy costs firmly on investors’ radar.
Brent crude rose 1.10 per cent to $110.02 per barrel, while US crude prices gained 0.86 per cent to $97.98 per barrel.
Higher crude prices remain a concern for India because of the country’s dependence on oil imports. A sustained rise in energy costs could add to inflationary pressures, increase the import bill and weigh on the margins of oil-sensitive businesses.
Gold And Silver Rates Today
Precious metals traded lower in the latest session.
On COMEX, gold declined 0.44 per cent to $4,131.90, while silver slipped 0.59 per cent to $57.37.
In the domestic market, the 24-carat gold rate stood at Rs 1,46,070 per 10 grams, while 18-carat gold was priced at Rs 1,09,550. The 24-carat gold rate in Dubai was reported at Rs 1,46,100.
Silver prices in India stood at Rs 249.90 per gram, or Rs 2,49,900 per kilogram.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
