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Market Ahead: Global growth concerns likely to weigh on investor sentiment

The dollar steadied after six days of gains and the yen edged higher

BS Web Team  |  New Delhi 

Weak global cues are likely to weigh on investor sentiment on Thursday. US' trade deficit with the rest of the world, which hit a record $891 billion last year, and lower global economic growth forecast by OECD are expected to be on investors' radar when trading resumes today. Besides, will also be awaiting monetary policy announcement by ECB (European Central Bank), due later in the day.

Back home, stock-specific action and movement of against the US dollar will be closely monitored.

Extending their gains, the benchmark indices settled over half a per cent higher on Wednesday. The S&P BSE Sensex ended at 36,636, up 194 points while the broader Nifty50 index settled at 11,053, up 66 points.

GLOBAL MARKETS

Asian stocks were mixed Thursday as global growth concerns resurfaced and US equities fell back. The dollar steadied after six days of gains and the yen edged higher. In the commodities market, WTI crude fell 0.2 per cent to $56.12 a barrel while gold rose 0.1 per cent to $1,287.78 an ounce.

STOCKS TO WATCH

Vedanta, Nalco: Faced with a raw material crunch to run its aluminium plant in Odisha, Vedanta has sought the court’s intervention to buy alumina from public sector National Aluminium Company (Nalco), which is currently exporting its surplus production while the domestic aluminium makers are reeling under shortage of alumina.

SpiceJet: On Wednesday, the airline tied up with Amadeus, a global distribution system service provider, giving global travel agents access to its ticket inventory.

RIL: News reports suggest Mukesh Ambani-led Reliance Industries (RIL) is set to make e-commerce debut during Diwali's bumper deal frenzy

First Published: Thu, March 07 2019. 06:55 IST
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