Home News Sensex, Nifty Seen Higher In Cautious Trade Ahead Of Fed Decision

Sensex, Nifty Seen Higher In Cautious Trade Ahead Of Fed Decision

by admin


May 3, 2022 10:38PM EDT

(RTTNews) – Indian shares look set to open a tad higher on Wednesday as investors gear up for the biggest Federal Reserve interest rate-hike since 2000.

Markets have already priced in a 50-bps rate hike later today, with additional 50-bps increases expected in June, July and September meetings.

The accompanying policy statement is eyed for clues about how aggressively the U.S. central bank plans to tighten monetary policy.

Investors would also react to the latest batch of earnings results, news flow around the LIC IPO and preliminary trade data for April. India’s trade deficit widened in April despite a 24.22 percent surge in merchandise exports.

Indian stock markets were closed on Tuesday for Ramzan Eid.

Asian stocks held steady this morning and gold edged lower amid an uptick in U.S. Treasury yields, while oil prices rose after having fallen more than 2 percent on Tuesday.

U.S. stocks finished slightly higher overnight after the release of positive data on factory orders and job openings.

The Dow and the tech-heavy Nasdaq Composite both inched up around 0.2 percent while the S&P 500 gained half a percent.

European stocks rebounded on Tuesday after suffering heavy losses in the previous session. The pan European Stoxx 600 rose half a percent, with German and Eurozone unemployment figures in focus.

The German DAX climbed 0.7 percent, France’s CAC 40 index added 0.8 percent and the U.K.’s FTSE 100 edged up 0.2 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT’s Financial Newswire is relied upon by some of the world’s largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

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Source : Nasdaq

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