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Market Cues

Indian markets are likely to open flat tracking global indices and SGX Nifty.

Stocks moved sharply lower over the course of the trading session on Thursday, with the Dow eventually joining the broader Nasdaq and S&P 500 in negative territory as the day progressed. The Nasdaq showed a particularly steep drop amid a sell-off by technology stocks. The major averages all closed in negative territory, although the Nasdaq underperformed its counterparts by a wide margin. The Dow fell 0.4 percent to 32,862.30 and the Nasdaq plunged 3.2 percent to 13,116.17.

Despite opening weak and struggling to move higher till about a couple of hours past noon, the Switzerland stock market ended on a positive note on Thursday, with select top counters attracting buyers in late afternoon trades. UBS Group shares gained nearly 4%. Richemont and Credit Suisse both ended higher by a little over 2.5%. The benchmark FTSE 100 grew by 0.2 percent to 6,779.

Indian shares ended deep in the red once again on Thursday as Fed Chair Jerome Powell's promise to look past inflation raised long-dated bond yields and steepened the Treasury curve to new 5-1/2 year highs. The dollar pushed higher helped by rising U.S. Treasury yields after the Federal Reserve said it expects inflation to rise to 2.4 percent in 2021, much higher than the target inflation rate of 2 percent, before slowing to 2 percent in 2022 The benchmark BSE Sensex down 1.2 percent, at 49,217.

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