Indian stocks are anticipated to open on a subdued note on Friday, following a tepid session on Wall Street overnight and mixed signals from Asian markets this morning.
As we approach the end of 2024, attention is shifting towards the Federal Reserve's interest rate decisions in 2025 and the potential for changes in tariff policies by U.S. President-elect Donald Trump.
Domestically, the Indian economy is projected to grow at approximately 6.5% for the fiscal year 2024-25, near the lower end of the 6.5-7% range forecasted by the Finance Ministry, according to their November monthly economic report.
The Reserve Bank of India (RBI) has reported that banks' profitability has increased for the sixth consecutive year in 2023-24, with gross non-performing assets (NPAs) dropping to a 13-year low of 2.7%.
The benchmark indices, Sensex and Nifty, fluctuated within a narrow range before closing Thursday with slight variances, as the market reopened after the Christmas holiday.
The Indian rupee depreciated by 12 paise to hit a record low of 85.27 against the dollar, influenced by heightened dollar index levels and ongoing sell-offs by foreign investors amidst global economic uncertainties.
According to provisional data from the NSE, foreign institutional investors offloaded shares worth Rs 2,376.67 crore on Thursday, while domestic financial institutions were net purchasers, buying Rs 3,336.16 crore worth of shares.
This morning, Asian stock markets displayed mixed performances, with Japanese markets spearheading regional gains due to renewed weakness in the yen.
The dollar index saw a modest increase during Asian trading, while oil and other commodity prices remained relatively stable.
U.S. stock markets presented a mixed picture overnight as trading resumed post-Christmas. Retail sales surpassed expectations during the shortened holiday season, and weekly jobless claims dipped unexpectedly for the week ending December 21st. However, continuing claims surged to a three-year high, according to separate data sets.
The Dow Jones Industrial Average ended flat but with a slight upward bias, while both the Nasdaq Composite and the S&P 500 finished marginally lower.
Major European markets remained closed on Thursday for Boxing Day celebrations.
The material has been provided by InstaForex Company - www.instaforex.com
As we approach the end of 2024, attention is shifting towards the Federal Reserve's interest rate decisions in 2025 and the potential for changes in tariff policies by U.S. President-elect Donald Trump.
Domestically, the Indian economy is projected to grow at approximately 6.5% for the fiscal year 2024-25, near the lower end of the 6.5-7% range forecasted by the Finance Ministry, according to their November monthly economic report.
The Reserve Bank of India (RBI) has reported that banks' profitability has increased for the sixth consecutive year in 2023-24, with gross non-performing assets (NPAs) dropping to a 13-year low of 2.7%.
The benchmark indices, Sensex and Nifty, fluctuated within a narrow range before closing Thursday with slight variances, as the market reopened after the Christmas holiday.
The Indian rupee depreciated by 12 paise to hit a record low of 85.27 against the dollar, influenced by heightened dollar index levels and ongoing sell-offs by foreign investors amidst global economic uncertainties.
According to provisional data from the NSE, foreign institutional investors offloaded shares worth Rs 2,376.67 crore on Thursday, while domestic financial institutions were net purchasers, buying Rs 3,336.16 crore worth of shares.
This morning, Asian stock markets displayed mixed performances, with Japanese markets spearheading regional gains due to renewed weakness in the yen.
The dollar index saw a modest increase during Asian trading, while oil and other commodity prices remained relatively stable.
U.S. stock markets presented a mixed picture overnight as trading resumed post-Christmas. Retail sales surpassed expectations during the shortened holiday season, and weekly jobless claims dipped unexpectedly for the week ending December 21st. However, continuing claims surged to a three-year high, according to separate data sets.
The Dow Jones Industrial Average ended flat but with a slight upward bias, while both the Nasdaq Composite and the S&P 500 finished marginally lower.
Major European markets remained closed on Thursday for Boxing Day celebrations.
The material has been provided by InstaForex Company - www.instaforex.com