Sensex, Nifty Seen Higher With Banks In Focus
(RTTNews) – Indian shares may open higher on Friday, with banks and financials likely to be in focus, after the Union Cabinet decided to approve a government guarantee of up to Rs. 30,600 crore for security receipts to be issued by the National Asset Reconstruction Company Limited (NARCL).
With this, the government has stepped up the process of setting up the proposed bad bank which will take over bad loans from banks worth Rs 2 lakh crore to resolve or liquidate.
Meanwhile, the Goods and Services Tax (GST) Council will hold its 45th meeting today, with a decision expected on bringing petrol, diesel under the ambit of indirect tax.
Benchmark indexes Sensex and the Nifty jumped 0.7 percent and 0.6 percent, respectively on Thursday to reach fresh record highs despite mixed global cues. The rupee slipped 2 paise to close at 73.52 against the greenback.
Asian markets traded mixed this morning as investors weighed risks from China’s clampdown on businesses and the prospect of reduced Federal Reserve stimulus.
Treasury yields and the dollar held firm while oil was steady in Asian trade. Gold held losses after dropping around two percent on Thursday.
U.S. stocks ended a choppy session narrowly mixed overnight as retail sales and jobless claims figures came in above expectations, giving ammunition to bets on early Fed tapering.
The Dow and the S&P 500 slipped around 0.2 percent while the tech-heavy Nasdaq Composite inched up 0.1 percent.
European stocks closed higher on Thursday as Ryanair lifted its traffic growth forecast and data showed Eurozone exports rose in July after six consecutive falls.
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