{"id":22629,"date":"2022-06-09T02:50:15","date_gmt":"2022-06-09T02:50:15","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/06\/09\/sensex-nifty-set-to-extend-losses-as-oil-hits-13-week-high\/"},"modified":"2022-06-09T02:50:15","modified_gmt":"2022-06-09T02:50:15","slug":"sensex-nifty-set-to-extend-losses-as-oil-hits-13-week-high","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/06\/09\/sensex-nifty-set-to-extend-losses-as-oil-hits-13-week-high\/","title":{"rendered":"Sensex, Nifty Set To Extend Losses As Oil Hits 13-week High"},"content":{"rendered":"
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Indian shares look set to extend recent losses on Thursday amid renewed worries about inflation and the outlook for interest rates. <\/p>\n

Brent crude oil prices rose above $123 a barrel to hit a 13-week high and U.S. Treasury yields rose above the psychologically important 3 percent level, adding to the pressure on RBI to keep raising rates gradually. <\/p>\n

Benchmark indexes Sensex and the Nifty ended slightly lower on Wednesday to extend losses for a fourth straight session after the RBI raised the repo rate by a bigger-than-expected 50 basis points. <\/p>\n

Asian markets<\/span> fell broadly this morning as investors awaited cues from today’s ECB meeting and Friday’s U.S. CPI release. China’s CPI and producer price index (PPI) data are also due on Friday.<\/p>\n

The Japanese yen extended its slide and gold inched lower, while oil extended overnight gains, underpinned by signs of robust demand in the world’s top consumer United States.<\/p>\n

U.S. stocks fell overnight, with concerns about slowing growth and prospects of tighter policy measures by the Fed weighing on markets. <\/p>\n

As interest rates climb, a measure of U.S. mortgage applications fell to its lowest level in 22 years last week, data showed. <\/p>\n

The Dow dropped 0.8 percent, the S&P 500 fell 1.1 percent and the tech-heavy Nasdaq Composite declined 0.7 percent. <\/p>\n

European stocks also closed lower on Wednesday following a profit warning from Credit Suisse and downward revisions in global growth forecasts by the World Bank and the OECD.<\/p>\n

The pan European Stoxx 600 gave up 0.6 percent. The German DAX and France’s CAC 40 index both declined around 0.8 percent, while the U.K.’s FTSE ended little changed with a negative bias. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n