Sensex
2024-09-07
3385
(fxcue news) - Indian shares look set to open on a tepid note Friday, tracking weakness in global peers as market attention shifted to Eurozone GDP data and the all-important U.S. jobs report due later in the day.
The U.S. payrolls report is likely to provide clearer insight into the potential scale of an anticipated rate cut this month.
Benchmark indexes Sensex and Nifty ended down around 0.2 percent each on Thursday while the rupee gained 4 paise to close at 83.97 against the dollar.
Asian markets traded mixed this morning and the dollar hovered near a one-week low against major currencies, while oil was poised for the deepest weekly loss in almost a year on demand concerns and amid signs of amply supply.
Gold held steady and was on track for a weekly gain, after having hit a nearly one-week high in the previous session.
U.S. stocks ended mixed overnight as private payrolls data showed the weakest growth since 2021, heightening fears of a slowing labor market.
However, weekly jobless claims declined and acidity in the key services sector rose for a second straight month, giving traders some respite from economic worries.
The S&P 500 slid 0.3 percent to end lower for the third straight session and the Dow gave up half a percent while the tech-heavy Nasdaq Composite edged up 0.3 percent to snap a two-day losing streak.
European stocks closed lower for a fourth day running on Thursday amid growth jitters.
The pan European STOXX 600 fell half a percent. The German DAX finished marginally lower, France's CAC 40 dipped 0.9 percent and the U.K.'s FTSE eased 0.3 percent.
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