INDIA STOCKS — Indian shares set to open lower as hot US inflation raises rate worries
Oct 15 (Reuters) — Indian shares are set to open lower on Thursday, tracking Asian peers as a quicker-than-expected increase in US consumer price inflation raised expectations of another rate hike by the Federal Reserve this year. Higher US rates make emerging markets such as India less attractive for overseas investors, who have already sold Indian stocks for 14 straight sessions into Wednesday, taking year-to-date outflows to a record $32.7 billion. GIFT Nifty futures were at 22,606.5 at 7:52 a.m. IST, indicating a negative start for the benchmark Nifty 50, which closed at 22,622.7 on Wednesday. Hotter-than-expected US inflation reinforces concerns over tighter global monetary conditions, a sentimental negative for risk assets such as emerging market equities, two traders said. Brent crude traded around $104.5 a barrel, as investors weighed supply risks from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels. O/R Domestic investor attention is likely to remain focused on company earnings, with Wipro scheduled to report its second-quarter results later in the day. Following HCL Tech's better-than-expec
Oct 15 (Reuters) — Indian shares are set to open lower on Thursday, tracking Asian peers as a quicker-than-expected increase in US consumer price inflation raised expectations of another rate hike by the Federal Reserve this year. 7 billion. m. 7 on Wednesday.
Hotter-than-expected US inflation reinforces concerns over tighter global monetary conditions, a sentimental negative for risk assets such as emerging market equities, two traders said. 5 a barrel, as investors weighed supply risks from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels. O/R Domestic investor attention is likely to remain focused on company earnings, with Wipro scheduled to report its second-quarter results later in the day.
Following HCL Tech's better-than-expected earnings earlier this week, which sparked a rally in technology stocks, markets will closely scrutinize Wipro's outlook for discretionary technology spending, deal conversions and margins. Robust primary-market activity could continue to divert liquidity from the secondary market, potentially limiting near-term upside for stocks, two traders said. 2 billion in what would be India's largest initial public offering to date. 76) per share.
com; +91 9769003463;)