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Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares may open a tad higher on Friday as Brent crude futures slipped away from the $70 mark and Fitch retained India's sovereign rating at 'BBB-' with stable outlook.

"India's ratings balance a strong medium-term growth outlook and relative external resilience stemming from strong foreign reserve buffers, against high public debt, a weak financial sector and some lagging structural factors," Fitch said.

Tata Motors could be in focus after the company said delivery timelines have been communicated to buyers of electric buses and therefore, there is 'no question of being blacklisted by the government'.

According to BSE data, the government on Thursday offloaded about 4.44 crore Wipro shares through block deals.

Lenders to Jet Airways said that they would pursue a bailout plan for a stake sale in the cash-strapped airline on Saturday, and in the absence of satisfactory bids, they would consider initiating bankruptcy proceedings against the airline.

Bharti Airtel denied media reports that it was considering a bid for a stake in Zee Entertainment.

Benchmark indexes Sensex and the Nifty dropped around half a percent on Thursday after the RBI cut its repo rate by 25 bps, as widely expected, but trimmed the growth and inflation outlook.

Bonds slumped and the rupee fell as much as 1 percent, the most since Jan. 2, to 69.1338 per dollar as the RBI refrained from shitting to a more easy stance on monetary policy.

Asian markets consolidated recent gains after U.S. President Donald trump touted prospects for an "epic" trade deal with China, but said it was too soon to set a date for a signing summit with Chinese President Xi Jinping. The dollar firmed up while oil fell slightly after rising in the previous session.

U.S. stocks ended mixed overnight as the jobs report loomed and carmaker Tesla missed on the number of vehicles it delivered.

The Dow rose 0.6 percent and the S&P 500 inched up 0.2 percent to reach their best closing levels in nearly six months, while the tech-heavy Nasdaq Composite slipped 0.1 percent.

European markets snapped a four-day winning run on Thursday as German factory orders data disappointed and reports emerged that Italy could lower its GDP forecast for the year.

The pan European Stoxx 600 eased 0.3 percent. The German DAX inched up 0.3 percent, while France's CAC 40 index slipped 0.1 percent and the U.K.'s FTSE 100 dropped 0.2 percent.
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