Indian Shares Seen Higher At Open As Yields Dip From Recent Highs

(RTTNews) - Indian shares are seen opening a tad higher on Thursday as U.S. Treasury yields eased from recent highs and oil steadied after climbing to more than one-month highs. Brent crude prices were little changed above $95 a barrel after three straight sessions of gains amid renewed U.S.-Iran hostilities over control of the Strait of Hormuz. U.S. President Donald Trump said renewed attacks on Iran would be short-lived while reiterating his claim that the U.S. controls the Strait of Hormuz, a vital route for global crude shipments. U.S. officials have signaled robust energy flows through the key waterway. According to CNN, the American military escorted 40 vessels through the waterway on Tuesday carrying 18 million barrels of oil. Benchmark indexes Sensex and Nifty fell around half a percent each on Wednesday to extend recent losses amid hawkish Federal Reserve expectations and escalating Middle East tensions. The rupee traded in a tight range before settling down 2 paise at 94.97 against the dollar. Foreign institutional investors net bought shares worth Rs. 6,688.37 crore on Wednesday, while domestic financial institutions net bought shares to the extent of Rs.2,812.98 crore, according to provisional exchange data. Asian markets were broadly higher this morning after New York Fed President John Willliams said in an interview with CNBC that inflation expectations remain well anchored and there is no "unusual" broadening of the effects of higher energy prices, soothing investor concerns over an imminent interest-rate hike by the Federal Reserve at the upcoming policy meeting scheduled for September 15-16. The Japanese yen held steady after a sudden, brief surge in the previous session. The U.S. dollar index eased while gold edged up to trade above $4,400 an ounce ahead of the all-important U.S. jobs report, due on Friday. U.S. stocks closed higher overnight, with the S&P 500 halting a three-day decline, as a rally in Treasury yields stalled after the release of data showing weaker than expected private sector job growth in August. The ADP report showed private sector employment rose by 38,000 jobs last month, below 48,000 expected and down from an upwardly revised 46,000 jobs in July. That marked the slowest pace of job creation in seven months. The Fed's Beige Book showed modest economic growth since early July, slightly employment gains and persistent price pressures. The Dow gained 0.6 percent while the tech-heavy Nasdaq Composite and the S&P 500 added around half a percent each. European stocks edged lower on Wednesday due to oil-driven inflation and interest-rate concerns. The pan-European STOXX 600 slid 0.2 percent. While the German DAX dropped half a percent, France's CAC 40 and the U.K.'s FTSE 100 both ended down about 0.3 percent.

(RTTNews) - Indian shares are seen opening a tad higher on Thursday as U.S. Treasury yields eased from recent highs and oil steadied after climbing to more than one-month highs.

Brent crude prices were little changed above $95 a barrel after three straight sessions of gains amid renewed U.S.-Iran hostilities over control of the Strait of Hormuz.

U.S. President Donald Trump said renewed attacks on Iran would be short-lived while reiterating his claim that the U.S. controls the Strait of Hormuz, a vital route for global crude shipments. U.S. officials have signaled robust energy flows through the key waterway.

According to CNN, the American military escorted 40 vessels through the waterway on Tuesday carrying 18 million barrels of oil.

Benchmark indexes Sensex and Nifty fell around half a percent each on Wednesday to extend recent losses amid hawkish Federal Reserve expectations and escalating Middle East tensions.

The rupee traded in a tight range before settling down 2 paise at 94.97 against the dollar.

Foreign institutional investors net bought shares worth Rs. 6,688.37 crore on Wednesday, while domestic financial institutions net bought shares to the extent of Rs.2,812.98 crore, according to provisional exchange data.