{"id":50156,"date":"2024-08-06T02:33:42","date_gmt":"2024-08-06T02:33:42","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/08\/06\/sensex-nifty-set-to-follow-asian-peers-higher-4\/"},"modified":"2024-08-06T02:33:42","modified_gmt":"2024-08-06T02:33:42","slug":"sensex-nifty-set-to-follow-asian-peers-higher-4","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/08\/06\/sensex-nifty-set-to-follow-asian-peers-higher-4\/","title":{"rendered":"Sensex, Nifty Set To Follow Asian Peers Higher"},"content":{"rendered":"
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Indian shares look set to rebound on Tuesday as Asian markets<\/span> recovered from a historic sell-off and U.S. stock futures rose after a three-day rout. <\/p>\n

That said, volatility could remain high due to fears of a possible U.S. recession and concerns over an escalating Middle East conflict.<\/p>\n

Benchmark indexes Sensex and Nifty fell around 2.7 percent each on Monday amid a global sell-off. The rupee ended at a record closing low of 83.85 per dollar due to unwinding of yen carry trades.<\/p>\n

Asian markets were broadly higher this morning, with Japan’s Nikkei climbing over 9 percent and South Korea’s Kospi adding 3 percent as technology<\/span> stocks saw some bargain hunting after a sharp drop in valuations over the past few weeks.<\/p>\n

The yen snapped a five-day gain, and gold was little changed above $2,400 per ounce while oil prices jumped more than 1 percent in Asian trade on fears that a spreading Middle East conflict could hit supplies. <\/p>\n

Israel and the U.S. are bracing for significant escalation after Iran and its regional allies vowed retaliation for the deaths of Hamas and Hezbollah leaders.<\/p>\n

U.S. stocks ended with deep losses overnight as recession worries and a widespread shift in sentiment around the technology sector overshadowed data showing a rebound in the U.S. services sector activity from a four-year low in July.<\/p>\n

The tech-heavy Nasdaq Composite plunged 3.4 percent and the S&P 500 plummeted 3 percent to hit three-month lows while the Dow slumped 2.6 percent. <\/p>\n

European stocks hit a six-month low on Monday, with fears over slowing U.S. growth, some weak eurozone economic data and heightened Middle East tensions weighing on markets. <\/p>\n

The pan European STOXX 600 fell 2.2 percent. The German DAX dipped 1.8 percent, France’s CAC 40 shed 1.4 percent and the U.K.’s FTSE 100 tumbled 2 percent. <\/p>\n<\/p>\n<\/div>\n