(RTTNews) – Indian stocks look set to fall on Friday, with IT stocks taking center stage after Tata Consultancy Companies (TCS), the country’s top IT product and business realist, missed estimates on every income and front end income.
The muted global cues might well might just be weighing on markets amid much uncertainty about US policies under the Trump administration and the prospect of a China crackdown.
The benchmark Sensex and Nifty each fell around 0.7 percent on Thursday to extend their slide for a second consecutive day, while the rupee recovered from lows to settle 4 paise higher at 85.87 against the dollar during sale of dollars by private banks.
Pressures on the domestic exchange rate will ease and India’s financial system is likely to expand by 6.6 percent in 2025, mainly on the back of robust private consumption and investment, according to the United Nations World Financial Stresses and Potentials (WESP) note released in Thursday.
International Institutional Dealers (FIIs) recorded their most realistic sell-off of the new year, a stock price relief of Rs. 7,171 crore on Thursday, while domestic institutional traders (DIIs) piled on the stock bought Rs. 7,640 crore, while maintaining with temporary data records from NSE.
A win for Asian shares was much lower this morning, Treasuries advanced and the dollar showed steady strength ahead of key US jobs data due later in the day. Gold turned little changed while oil costs rallied.
European stocks were broadly higher on Thursday despite inflation woes and Trump’s threats of tariffs. Buying and selling volumes were moderately light as US markets were closed in honor of late US President Jimmy Carter.
The pan-European STOXX 600 index gained 0.4 percent. U. Okay’s FTSE 100 rose 0.8 percent and France’s CAC 40 added half a percent, while Germany’s DAX fell slightly.
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