{"id":7693,"date":"2021-02-26T02:42:54","date_gmt":"2021-02-26T02:42:54","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/02\/26\/indian-shares-set-to-fall-amid-global-selloff\/"},"modified":"2021-02-26T02:42:54","modified_gmt":"2021-02-26T02:42:54","slug":"indian-shares-set-to-fall-amid-global-selloff","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/02\/26\/indian-shares-set-to-fall-amid-global-selloff\/","title":{"rendered":"Indian Shares Set To Fall Amid Global Selloff"},"content":{"rendered":"
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Indian shares look set to follow global peers lower on Friday as the 10-year U.S. Treasury yields continued to soar, reflecting expectations the Federal Reserve will have to raise rates sooner to keep inflation contained. <\/p>\n

Meanwhile, RBI Governor Shaktikanta Das has called upon the Central and state governments to reduce taxes on petrol and diesel prices, saying rising fuel prices have a cost-push factor and a far-reaching impact on the economy<\/span>. <\/p>\n

Moody’s on Thursday upped India’s growth projection for FY22 to 13.7 percent from 10.8 percent estimated earlier, but warned the country’s fiscal position would pose a key credit challenge. <\/p>\n

Benchmark indexes Sensex and the Nifty rose about half a percent and 0.8 percent respectively on Thursday to extend gains for the third day running while the rupee ended 8 paise lower at 72.43 against the U.S. dollar.<\/p>\n

Asian markets<\/span> tumbled this morning, with benchmark indexes in Australia, South Korea and Japan falling 2-3 percent, as investors fretted over high valuations, especially in the technology sector. <\/p>\n

The dollar index held firm while oil prices held near 13-month highs. Gold prices hit their lowest in a week and headed for a second straight weekly decline.<\/p>\n

U.S. stocks tumbled overnight as U.S. Treasury yields hit a new 52-week high after the release of a batch of largely upbeat data on GDP, jobless claims and new orders for manufactured durable goods.<\/p>\n

The tech-heavy Nasdaq Composite slumped as much as 3.5 percent to reach its lowest closing level in nearly a month, while the Dow Jones Industrial Average lost 1.8 percent and the S&P 500 shed 2.5 percent.<\/p>\n

European stocks ended on a subdued note Thursday as rising bond yields outweighed positive news on the vaccine front and dovish signals from the Federal Reserve. <\/p>\n

The pan European Stoxx 600 gave up 0.4 percent. The German DAX shed 0.7 percent, France’s CAC 40 index eased 0.2 percent and the U.K.’s FTSE 100 slipped 0.1 percent. <\/p>\n<\/p>\n<\/div>\n