European Shares Seen Tad Higher With US PCE Data In Focus

The BSE Sensex rose 303 points, or 0.4%, to 85,569 in morning trade on Friday, extending gains from the previous session following the RBI’s 25-bps cut in key repo rates and revised GDP and inflation forecasts.

The central bank raised its GDP growth forecast for FY2025/26 to 7.3%, up from a previous estimate of 6.8%, while revising headline inflation down to 2.0% from 2.6%, keeping it well within the 2%–6% target range.

Expectations of the Fed’s interest rate cuts next week also boosted sentiment.

The Nifty 50 climbed 0.4% to above 26,100.

Most sectors traded in the green, led by technology, which rose 1.2%, followed by financial services, autos, and banking stocks.

Top gainers included Bajaj Finance (2.0%), Infosys (1.7%), HCL Tech (1.4%), Bajaj Finserv (1.3%), and TCS (1.1%).

However, the index is set for a 0.2% weekly decline, which would be its first in four weeks.

New Zealand's benchmark S&P/NZX 50 index slipped 0.2% to close at 13,484 on Friday, extending losses from the previous session, dragged mainly by utility stocks.

Meridian Energy (-1.2%), Contact Energy (-1.2%), Mercury NZ (-1.1%), Vector (-1.7%), and Genesis Energy (-0.8%) all finished lower.

The sector’s weakness followed reports that the finance and energy ministers of Australia and New Zealand agreed that stronger climate action and increased investment in renewable energy are essential to easing power prices and reducing cost-of-living pressures for households and businesses across both countries.

Other heavyweight names also contributed to the downturn, including Fisher & Paykel (-0.7%), a2 Milk (-2.05%), and Spark NZ (-1.75%).

For the week, the NZX 50 was little changed.

On the global front, all eyes are now on the delayed US September PCE data, due later in the day, which could offer more clues on the Federal Reserve’s policy direction.

The equity benchmarks recovered from early losses on Friday, with the Sensex climbing over 500 points from the day’s low and the Nifty moving above 26,100, as sentiment improved after the Reserve Bank of India (RBI) announced a policy rate cut.

The market had opened on a volatile note amid continued foreign fund outflows and mixed cues from overseas markets.

At around 10:55 a.m., the Sensex was up 196.89 points or 0.23 percent to 85,462.21, while the broader Nifty advanced to 26,093.60, up 59.85 points or 0.23 percent.

Bajaj Finance, Infosys and Shriram Finance were among the top gainers in the Nifty50 pack, rising up to 2 perent, while InterGlobe Aviation and Hindustan Unilever declined up to 3 percent.

Key factors behind market rise

1) Policy rate cut: RBI’s Monetary Policy Committee (MPC) voted unanimously to reduce the policy rate by 25 basis points to 5.25 percent. A rate cut eases borrowing costs for companies and consumers, which is seen as supportive for economic activity and often lifts equity sentiment.

2) Rupee rises: The rupee strengthened 20 paise to 89.69 against the US dollar in early trade, after touching record low in previous session. A firmer domestic currency can help reduce import costs.

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3) Crude declines: Brent crude slipped 0.17 percent to USD 63.15 a barrel. Softer crude prices tend to ease inflationary pressures and lower input costs for several sectors, providing an additional boost to the market.

4) Firm global cues: Asian markets were mostly firm, with South Korea’s Kospi and Shanghai’s SSE Composite trading in the green. US stocks ended on a flat note overnight.

5) India Vix declines: The India VIX, a measure of market volatility, fell 2.29 percent to 10.57. A lower reading is usually associated with improved risk appetite among investors.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Friday, following the mixed cues from Wall Street overnight, with Japan leading the losses, as traders remain cautious ahead of the rate decisions by the US Fed and the Bank of Japan in the coming days. They also look ahead to key U.S. inflation data and the September income and spending report later in the day for further clues on the interest rate direction. Asian markets ended mixed on Thursday.

Report showing first-time claims for U.S. unemployment benefits unexpectedly fell to a three-year low last week. While the data partly offset recent optimism about the Fed cutting interest rates next week, the central bank is still widely expected to lower rates by another quarter point.

The Australian stock market is trading slightly higher on Friday, extending the gains in the previous three seasons, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 8,600 level, with gains in gold miners, financial and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 9.20 points or 0.11 percent to 8,627.60, after hitting a low of 8,591.20 earlier. The broader All Ordinaries Index is up 14.20 points or 0.16 percent to 8,920.90. Australian stocks closed modestly higher on Thursday.

Among major miners, Mineral Resources is advancing more than 5 percent, BHP Group is edging up 0.1 percent and Fortescue is gaining more than 1 percent, while Rio Tinto is losing more than 2 percent.

Oil stocks are mixed. Santos is losing more than 1 percent and Woodside Energy is down almost 1 percent, while Origin Energy and Beach energy are gaining almost 1 percent each.

Among tech stocks, Afterpay-owner Block is gaining almost 2 percent, Zip is adding almost 4 percent, WiseTech Global is edging up 0.1 percent and Appen is advancing almost 3 percent, while Xero is losing more than 1 percent.

Among the big four banks, Commonwealth Bank, National Australia Bank and ANZ Banking are edging up 0.1 to 0.5 percent each, while Westpac is gaining almost 1 percent.

Gold miners are mostly higher. Resolute Mining and Northern Star Resources are adding almost 1 percent each, while Evolution Mining and Newmont are gaining more than 2 percent each. Genesis Minerals is advancing 1.5 percent.

In other news, shares in NextDC are jumping more than 5 percent after confirmation that the data centre provider has inked an MoU with OpenAI to develop a sovereign artificial intelligence infrastructure partnership.

Shares in Premier Investments are diving more than 13 percent as the Peter Alexander and Smiggle owner announced a 12-month on-market share buyback of up to $100 million following the completion of its Apparel Brands sale to Myer.

In the currency market, the Aussie dollar is trading at $0.661 on Friday.

Snapping a three-session winning streak, the Japanese market is trading significantly lower on Friday, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well below the 50,500 level, with weakness across most sectors led by exporters and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 50,465.14, down 563.28 points or 1.10 percent, after hitting a low of 50,215.41 earlier. Japanese shares ended sharply higher on Thursday.

Market heavyweight SoftBank Group is gaining almost 2 percent, while Uniqlo operator Fast Retailing is down almost 2 percent. Among automakers, Toyota is losing almost 2 percent and Honda is also declining almost 2 percent.

In the tech space, Advantest and Tokyo Electron are declining more than 2 percent each, while Screen Holdings is losing more than 1 percent.

In the banking sector, Sumitomo Mitsui Financial is edging down 0.1 percent, Mizuho Financial is declining more than 1 percent and Mitsubishi UFJ Financial is losing almost 1 percent.

Among the major exporters, Sony, Canon and Mitsubishi Electric are declining almost 2 percent each, while Panasonic is losing more than 1 percent.

Among other major losers, Trend Micro is tumbling more than 6 percent and Renesas Electronics is losing more than 4 percent, while Bridgestone and Fuji Electric are declining almost 4 percent each. Mazda Motor is slipping more than 3 percent, while Suzuki Motor, Dai Nippon Printing, Nintendo, Central Japan Railway, Komatsu and Aeon are down almost 3 percent each.

Conversely, Sharp and Ibiden are gaining almost 3 percent each.

In the currency market, the U.S. dollar is trading in the higher 154 yen-range on Friday.

Elsewhere in Asia, New Zealand, China, Hong Kong, Singapore and Malaysia are lower by between 0.2 and 0.5 percent each, while South Korea, Taiwan and Indonesia are higher by between 0.1 and 0.6 percent each.

On Wall Street, stocks showed a lack of direction over the course of the trading day on Thursday after moving higher over the two previous sessions. The major averages spent the day bouncing back and forth across the unchanged line before eventually closed narrowly mixed.

While the Nasdaq rose 51.04 points or 0.2 percent to 23,505.14 and the S&P 500 inched up 7.40 points or 0.1 percent to 6,857.12, the narrower Dow edged down 31.96 points or 0.1 percent to 47,850.94.

Meanwhile, the major European markets all moved to the upside on the day. While the German DAX Index advanced by 0.8 percent, the French CAC 40 Index rose by 0.4 percent and the U.K.'s FTSE 100 Index edged up by 0.2 percent.

Crude oil prices advanced on Thursday as expectations of an end to the Russia-Ukraine war dimmed. West Texas Intermediate crude for January delivery was up $0.70 or 1.19 percent at $59.65 per barrel.

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Indonesian stocks rose 20 points, or 0.2%, to a fresh record of 8,660 in Friday morning trade, extending gains for a second session.

Sentiment improved alongside a modest uptick in U.S. futures ahead of the U.S. PCE index release, a key inflation gauge due before the Fed’s final policy meeting next week, where another rate cut is widely expected.

For the week, the IDX Composite is on track for its third consecutive advance, up roughly 1.8% so far.

Optimism was supported by recent OECD projections showing Indonesia’s economy expanding by 5% annually through 2025–2027, backed by fiscal stability, resilient domestic demand, and improving financial conditions.

Gains were led by consumer durables, industrial services, and producer manufacturing, though weakness in healthcare and energy minerals capped broader strength.

Among notable movers were XLSmart Telecom (10.7%), Capital Financial Indonesia (7.0%), Pertamina Geothermal Energy (6.0%), and Bangun Kosambi Sukses (4.3%).

The Shanghai Composite fell 0.1% to around 3,870, while the Shenzhen Component dropped 0.15% to 12,985 on Friday, with mainland stocks set to end the week lower as investors awaited policy signals from high-level meetings this month.

Markets are focused on the annual Central Economic Work Conference and the December Politburo meeting for guidance on Beijing’s policy direction and growth targets for next year.

Economists expect China to maintain its “around 5%” annual growth target for 2026 while keeping fiscal and monetary stimulus options open amid persistent deflation concerns.

Notable losses were reported among heavyweight firms, including Zhongji Innolight (-1.4%), Zhejiang Sanhua (-0.7%), Shenzhen H&T Intelligent (-9.2%), Victory Giant (-9.2%), and Foxconn Industrial (-0.5%).