Track Live Share Market: The stock markets- Sensex and Nifty are likely to open lower on Thurdsday, tracking weak global cues. The SGX Nifty was trading 30.5 points or 0.28 per cent down, indicating a weak opening for the stock market.
Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-U.S. tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports.
There was some hope another U.S. government shutdown would be averted as President Donald Trump edged toward backing a deal in Congress on funding for a border barrier, Reuters reported. Shares of ONGC will assume focus ahead of its Q3 results scheduled today. Jet Airways shares will also be in focus ahead of its board meet today. We bring to you LIVE updates.
Cash-strapped Jet Airways could face further trouble as some of its lessors are planning to take back their leased aircraft to the airline if the latter’s board meeting on February 14 fails to come up with a firm recapitalisation plan. The Jet board is meeting on Thursday to approve the company’s earnings during the October-December quarter and the lessors who have not been paid leasing charges for months expect the board to come up with a firm recapitalisation plan.
Also read: Jet Airways trouble: Lessors of debt-laden airline may take back aircraft
Oil prices rose on Thursday, buoyed by hopes that potential progress in the latest Sino-U.S. tariff talks would improve the global economic outlook. U.S. West Texas Intermediate (WTI) crude futures were at $54.15 per barrel at 0204 GMT, up 25 cents, or 0.5 percent, from their last settlement. They closed up 1.5 percent on Wednesday, having touched their highest since Feb. 5 at $54.60 a barrel. International Brent crude oil futures were up 29 cents, or 0.5 percent, at $63.90 a barrel. They closed the previous session up 1.9 percent, after marking their strongest since Nov. 21 at $63.98 a barrel.
Also read: Oil prices rise on hopes for US-China trade spat breakthrough
Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-U.S. tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports. There was some hope another U.S. government shutdown would be averted as President Donald Trump edged toward backing a deal in Congress on funding for a border barrier. MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat, having just touched peaks last seen in early October. Japan’s Nikkei edged up 0.3 percent to its highest for the year so far as a weakening yen boosted export stocks. E-Mini futures for the S&P 500 added 0.1 percent.
Also read: Global markets: Asia stocks wait on Sino-US tariff talks, China trade data
U.S. and Chinese negotiators have begun trade talks President Donald Trump says will help decide whether he postpones a planned tariff increase on $200 billion of imports from China. Businesspeople and economists say the two days of talks that started Thursday are unlikely to resolve a fight over Beijing’s technology ambitions. They say Chinese negotiators are trying to persuade Trump they are making enough progress to postpone the March 2 duty increase. The chief U.S. envoy, Trade Representative Robert Lighthizer, and his Chinese counterpart, Vice Premier Liu He, shook hands at the start of the meeting at a government guesthouse but said nothing to reporters.
Also read: US, China negotiators start trade talks ahead of March tariff deadline
Source: Financial Express