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Indian shares may open sharply lower on Friday, tracking weak global cues as fears of elevated inflationary pressures resurfaced. <\/p>\n
There is some respite on the data front with India’s core sector growth accelerating to 11.6 percent in August, pointing to a strong recovery in the economy<\/span> after the second wave of the pandemic. <\/p>\n Automakers could be in focus with Maruti Suzuki warning of a hit to production for a second straight month due to chip shortage. <\/p>\n Benchmark indexes Sensex and the Nifty fell around half a percent on Thursday to extend losses for the third day amid the expiry of F&O September series contracts. <\/p>\n The rupee settled 9 paise down at 74.23 against the dollar, extending losses for the fifth straight session.<\/p>\n Asian stocks fell in thin holiday trade, with Chinese markets<\/span> closed for a week for the Golden Week holiday. <\/p>\n The dollar headed for its best week in months while oil prices dipped on the prospect that the OPEC+ supplier alliance might step up a planned increase in output.<\/p>\n U.S. stocks fell sharply overnight as concerns about the timing and pace of the Fed’s monetary easing plan overshadowed news that the Senate and the House both passed a stopgap spending bill.<\/p>\n While a government shutdown was avoided, the U.S. still faces a potential default amid an impasse over raising the debt ceiling.<\/p>\n The Dow slumped 1.6 percent to reach a three-month closing low, while the S&P 500 shed 1.2 percent and the tech-heavy Nasdaq Composite eased 0.4 percent to end at their lowest closing levels in over two months.<\/p>\n European stocks fell on Thursday amid concerns over rising bond yields and signs of slowing growth. <\/p>\n The pan European Stoxx 600 ended flat with a negative bias. The German DAX dropped 0.7 percent, France’s CAC 40 index declined 0.6 percent and the U.K.’s FTSE 100 eased 0.3 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n