The BSE Sensex and NSE Nifty are likely to open in red tracking SGX Nifty and weak global markets.
(Reuters)
At 8.29 am (IST), SGX Nifty was down 33.50 points, or 0.42 per cent, at 7,922.50.
Most of Asian stocks slipped and the dollar advanced on Thursday after hawkish comments from Federal Reserve Chair Janet Yellen reinforced the case for an interest rate hike later this month.Hang Seng and Nikkei were down 0.38 per cent, 0.22 per cent, while Shanghai was up 0.67 per cent at the same time.
US stocks closed sharply lower on Wednesday after hawkish comments from Janet Yellen boosted expectations of an interest rate hike, and oil dipped below $40 a barrel. The S&P 500 energy index fell 3.1 per cent, leading declines in the S&P 500 as US crude oil futures finished the session down 4.6 per cent at $39.94.
Back home, the BSE Sensex and NSE Nifty snapped four-day winning streak on Wednesday. Sensex closed 51.56 points down at 26,117.85, while Nifty50 index closed 23.55 points down at 7,931.
Shares of Wipro and Tata Steel will remain in focus on Thursday. India’s third largest software services firm Wipro on Wednesday said it will acquire German IT consulting firm cellent AG for 73.5 million euros (about Rs 518 crore).
Global steel major Tata Steel on Wednesday said its Singapore arm has executed pacts worth $1.5
billion for refinancing its debt.
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