Sensex, Nifty Seen Opening Lower As Bond Yields Hit Fresh Lows

(RTTNews) - Indian shares may drift lower at open on Thursday, with U.S recession concerns and the impending expiry of near-month derivative contracts likely to keep the underlying mood cautious.

Jet Airways could be in focus amid reports that former SBI Chairman Arun Kumar Purwar is on the list of probables to head its interim board.

Meanwhile, S&P has cut its rating on senior unsecured notes of JLR and Tata Motors, citing JLR's weaker than expected Q3 results.

Benchmark indexes Sensex and the Nifty ended a volatile session with modest losses on Wednesday after Prime Minister Narendra Modi announced successful launch of the country's anti-satellite missile system demonstrating the nation's capability to defend its assets in outer space. The rupee settled marginally lower at 68.88 against the dollar.

Asian stocks remain broadly lower this morning as the U.S. and China resume trade talks in Beijing. The dollar strengthened while oil extended losses for a second session after data showed a surprise increase in crude inventories.

U.S. stocks fell modestly overnight on worries about a possible recession as bond yields extended the downward trend seen over the past few sessions.

The Dow slipped 0.1 percent, the tech-heavy Nasdaq Composite dropped 0.6 percent and the S&P 500 declined half a percent.

European markets ended little changed on Wednesday as comments by ECB President Mario Draghi added to concerns about the euro zone's economic health.

The pan European Stoxx 600 closed flat with a positive bias. The German DAX and the U.K.'s FTSE 100 ended largely unchanged while France's CAC 40 index slipped 0.1 percent.
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