Sensex, Nifty Snap Four-day Winning Streak

RTTNews | Před 1057 dny
Sensex, Nifty Snap Four-day Winning Streak

(RTTNews) - Indian shares ended slightly lower on Wednesday to snap a four-day winning streak, as renewed concerns about inflation and the risk of recession weighed on the rupee, which fell 19 paise to close at a new record low of 79.04 against the dollar.

Rising oil prices also weighed on sentiment. Oil prices were modestly higher in European trade after having risen for three straight sessions amid signs of tight supply.

The benchmark S&P BSE Sensex dropped 150.48 points, or 0.28 percent, to 53,026.97 as a weaker-than-expected U.S. consumer confidence reading fueled worries over a recession and dented investors' appetite for riskier assets globally.

The broader NSE Nifty index ended down 51.10 points, or 0.32 percent, at 15,799.10. Tata Consumer Products, Axis Bank, Apollo Hospitals Enterprise, Hindustan Unilever and HDFC Life fell 3-5 percent in the Nifty pack, while heavyweight Reliance Industries rose 1.9 percent after chairman Mukesh Ambani announced a succession plan.

ONGC jumped 2.9 percent, tracking gains in crude prices. Coal India, Sun Pharma and NTPC rose 1-2 percent.

Fed Chair Jerome Powell, ECB President Christine Lagarde and BOE Governor Andrew Bailey will be speaking at the ECB forum on central banking in Sintra, Portugal later in the day.

Also, U.S. final GDP data for the first quarter is due in the New York session.

read more
U.S. Dollar Falls Amid Risk-on Mood, Fed Rate Cut Bet

U.S. Dollar Falls Amid Risk-on Mood, Fed Rate Cut Bet

The U.S. dollar weakened against other major currencies in the Asian session on Wednesday amid increased risk-on mood, as some traders are still looking to cash in on the strong upside in the markets seen over the past several weeks. Furthermore, growing market acceptance that the Federal Reserve (Fed) will lower interest rates further this year amid evidence of diminishing inflationary pressure and a dismal growth forecast, also pushed the USD lower.
RTTNews | Před 47 minutami
Japan Exports Growth Softens On Higher Trade Tariffs

Japan Exports Growth Softens On Higher Trade Tariffs

Japan's exports grew at a slower pace in April largely due to the higher tariffs imposed by the US administration, official data revealed Wednesday. Exports climbed 2.0 percent on a yearly basis in April, slower than the 4.0 percent increase in March, the Ministry of Finance reported. Exports have been rising since last September and the latest growth matched economists' expectations.
RTTNews | Před 1 h 59 min
European Shares May Struggle At Open

European Shares May Struggle At Open

European stocks are seen opening little changed on Wednesday, with U.S. fiscal concerns, geopolitical tensions and the Fed outlook likely to be in focus.
RTTNews | Před 2 h 54 min
European Economic News Preview: UK Inflation Data Due

European Economic News Preview: UK Inflation Data Due

Consumer price data from the UK is the only major report due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK consumer prices for April. Consumer price inflation is forecast to rise to 3.3 percent from 2.6 percent in March.
RTTNews | Před 3 h 8 min
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were modestly higher in early trade on Wednesday, after having suffered heavy losses in the previous session amid rising geopolitical tensions, growing concerns over U.S. debt and a spike in Covid-19 cases in Southeast Asia.
RTTNews | Před 4 h 22 min
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market moves on Wednesday, adding the gains in the previous session, with the benchmark S&P/ASX 200 staying just below the 8,400 level, despite the broadly negative cues from Wall Street overnight, with gains in mining, financial and energy stocks partially offset by weakness in technology stocks.
RTTNews | Před 5 h 1 min