Indian shares open higher on positive US GDP data, with Tata Motors rallying and LIC soaring. Positive outlook for the global economy and stock market.
Indian shares set for slight rise amid search for new triggers. Interest rates remain a concern. NSE stock futures up 0.16%. Unease in Asia over rates, shaky recovery, and political developments. S&P Global Ratings upgrades India's banking sector.
Indian shares continue to slide as hawkish central banks affect risk appetite. Indexes have good support around 18,400-18,500, suggesting buying opportunities. Adani Group stocks tumble after US inquiries.
Read about the expected lackluster start to Indian shares on Friday as investors consolidate around record levels of benchmark indexes, amid high valuations, inflation concerns, and divergent rate hike views. Keep an eye on EROS International Media Ltd and Tata Steel Ltd.
The Indian rupee is expected to open slightly higher on Tuesday, awaiting pivotal U.S. inflation data that will determine the Federal Reserve's stance on interest rates. India's inflation rate fell to 4.25%, reinforcing expectations of a prolonged pause on interest rates by the Reserve Bank of India. Futures indicate a 1-in-4 chance that the Fed will hike rates. Foreign investors bought a net $12.3 million worth of Indian bonds on Jun. 9.
Indian shares fell with Reliance Industries and financial stocks leading the Nifty 50 index down by 0.53%, while the S&P BSE Sensex also dipped by 0.55%. Investors awaited the US Congress vote on the debt ceiling agreement deal, and Q1 GDP data was due to be released. Reliance Industries, owned by Mukesh Ambani, saw a market capitalization decrease of nearly $155m due to its MSCI weightage drop.
Indian shares continue to slide as hawkish central banks affect risk appetite. Indexes have good support around 18,400-18,500, suggesting buying opportunities. Adani Group stocks tumble after US inquiries.
Read about the expected lackluster start to Indian shares on Friday as investors consolidate around record levels of benchmark indexes, amid high valuations, inflation concerns, and divergent rate hike views. Keep an eye on EROS International Media Ltd and Tata Steel Ltd.