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Sensex, Nifty Slip Into Red After Wednesday's Rally
(RTTNews) - Indian shares opened were slightly lower in early trade on Thursday, after having risen sharply the previous day to break a prolonged losing streak.
The benchmark 30-share BSE Sensex was down 74 points, or 0.1 percent, at 73,656 after rallying more than 1 percent in the previous session.
The broader NSE Nifty index slid 27 points, or 0.1 percent, at 22,310, with UltraTech Cement, SBI Life, HDFC Life, Bharti Airtel and Tent all falling around 1 percent.
Global cues remain positive as oil prices fell sharply on demand concerns and the Trump administration granted one-month tariff exemption for U.S. automakers from Mexico and Canada amid trade war fears.
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U.S. Trade Deficit Soars To Record High In January
Reflecting a spike by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened by more than expected in the month of January. The Commerce Department said the trade deficit surged to a record high of $131.4 billion in January from a revised $98.1 billion in December.
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Bay Street Likely To Open Lower
Lower Canadian and U.S. futures and weak metal prices point to a negative start on Bay Street Thursday morning.
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U.S. Trade Deficit Widens More Than Expected In January
Reflecting a spike by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened by more than expected in the month of January.
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U.S. Weekly Jobless Claims Dip More Than Expected
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 3rd.
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Eurozone Retail Sales Fall Unexpectedly
Eurozone retail sales declined unexpectedly in January on non-food and auto fuel sales, official data showed on Thursday. Retail sales registered a monthly drop of 0.3 percent, confounding expectations for an increase of 0.1 percent. The statistical office revised up retail sales for December to nil growth from the initial estimate of 0.2 percent fall.
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Turkey Central Bank Slashes Rate By 250 Bps
Turkey's central bank lowered its benchmark rate for the third straight time on Thursday as the underlying trend of inflation softened. The Monetary Policy Committee, headed by Yasar Fatih Karahan, decided to reduce the policy rate to 42.5 percent from 45.0 percent, as widely expected. The bank had reduced the rate by 250 basis points each in December and January.
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Air France-KLM Stock Climbs On Narrower Q4 Loss, Positive Outlook
Shares of Air France-KLM Group were gaining more than 20 percent in the morning trade in Paris after the airline reported Thursday narrower net loss and significantly higher EBITDA, a key earnings metric, in its fourth quarter amid good growth in passenger traffic, capacity and load factor. Further, the company projects capacity growth in fiscal 2025, and maintained medium term outlook.
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FTSE 100 Down More Than 1%
U.K. stocks are down firmly in negative territory Thursday morning with investors taking some profits, while reacting to corporate earnings updates and awaiting the European Central Bank's interest rate decision later in the day.
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