On Friday, Indian shares are expected to rise due to falling crude oil prices and expectations of a recovery in global demand as a result of China relaxing its strict COVID-19 import regulations.
As of 7:25 am IST, the NSE stock futures for India listed on the Singapore Exchange were up 0.36% at 18,795.
China, India Stocks Expected To Rise
Following state election trends in India that suggested the ruling Bhartiya Janata Party retained the crucial state of Gujarat, the blue-chip indexes rose on Thursday, supported by a surge in public sector banks.
The world’s second-largest economy, China, announced a change in policy and loosened anti-COVID-19 restrictions, which could help to restore global supply chains and lower inflation. As a result, global equities increased.
The MSCI Asia ex-Japan index rose over 1% when Asian markets started on Friday. A further drop in oil prices, which have already fallen for five sessions in a row to their lowest level since 2022, may support the rise in domestic markets. For nations like India that import crude as a large portion of their energy needs, a decline in crude prices is advantageous.
Read more: China acquires Russian oil at rock-bottom costs, defying price limitations
Chinese Developer Shares Rise
As a result of hopes that government officials would increase support for the struggling real estate industry at a crucial economic meeting next week, Chinese property shares rose.
Chinese authorities have increased their efforts to revive the real estate sector, whose prolonged downturn has had a negative impact on the economy as a whole. Stock prices have increased over the past month as a result of the policy support and the swift removal of some of the country’s strictest COVID-19 restrictions.
Officials want to downplay the significance of the term “housing is for living, not for speculating” during the annual Central Economic Work Conference next week and work to reverse the declining trend in the real estate market.
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