Indian shares open lower ahead of US jobs data
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 06 2024
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Source: Reuters
Market Reaction to U.S. Economic Data: India's benchmark indexes opened slightly lower as investors await a crucial U.S. jobs report, which may influence the Federal Reserve's interest rate decisions. The Nifty 50 and S&P BSE Sensex fell by 0.16% and 0.21%, respectively, amid concerns over the U.S. labor market.
Sector Performance and Stock Movements: Despite the overall market decline, small-cap stocks rose by 0.4%, while ten out of thirteen major sectors experienced losses. Notable individual stock movements included Aavas Financiers rising 3.2% after an upgrade from Goldman Sachs, and Va Tech Wabag and KEC International gaining 5% and 4% respectively due to order wins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
