Sensex Drops 570 Points On Fed Rate Hike Worries; Nifty Ends At 19,742

RTTNews | vor 686 Tagen
Sensex Drops 570 Points On Fed Rate Hike Worries; Nifty Ends At 19,742

(RTTNews) - Indian shares fell notably on Thursday, pressured by weak global cues, a stronger dollar and higher bond yields after the Federal Reserve left interest rates unchanged, as widely expected, but raised its forecast for rates at the end of next year saying that battle against inflation was far from over.

Concerns over higher oil prices and hawkish messages from other central banks, including the Swiss National Bank, Sweden's Riksbank and Norway's central bank also weighed on markets.

The benchmark S&P BSE Sensex fell 570.60 points, or 0.85 percent, to 66,230.24 while the broader NSE Nifty index ended the session down 159.05 points, or 0.8 percent, at 19,742.35.

Financials led losses, with IndusInd Bank, SBI and ICICI Bank falling 2-3 percent.

Mahindra & Mahindra lost 2.9 percent after its Canada-based associate firm Resson Aerospace Corporation ceased to exist.

Cipla dropped 2.5 percent after its subsidiary InvaGen's manufacturing plant received five inspectional observations in Form 483 from the U.S. health regulator.

Among those that gained, Bharti Airtel, Asian Paints, Dr Reddy's Laboratories, Tech Mahindra and Adani Ports rose 1-2 percent.

read more
Commodity Currencies Rise Amid Risk-On Mood, Strong China Export Data

Commodity Currencies Rise Amid Risk-On Mood, Strong China Export Data

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the Asian session on Thursday amid increased risk appetite by the investors, after U.S. President Donald Trump said the U.S. was closing in on the trade deal with China. Traders also remain optimistic about the U.S. Fed cutting interest rates as early as September based on the recent economic data from the U.S.
RTTNews | vor 1Std 36 Minuten
China Exports Growth Accelerates; Imports Rise Unexpectedly

China Exports Growth Accelerates; Imports Rise Unexpectedly

China's exports logged a robust growth in July as the sharp decline in shipments to the US was offset by the rise in exports to the EU and other markets, official data revealed Thursday. Exports surged 7.2 percent on a yearly basis, following June's 5.8 percent increase, the customs office reported. Exports were forecast to climb 5.4 percent.
RTTNews | vor 2Std 9 Minuten
UK House Prices Rise At Fastest Pace In 6 Months

UK House Prices Rise At Fastest Pace In 6 Months

UK house prices grew at the fastest pace in six months in July as the property market started to stabilize following the end of the stamp duty holiday, data from the mortgage lender Halifax showed on Thursday. House prices increased by more-than-expected 0.4 percent in July from June. Prices were expected to grow at a steady pace of 0.1 percent in July. Moreover, this was the fastest growth sinc
RTTNews | vor 2Std 49 Minuten
NZ Dollar Advances Against Majors

NZ Dollar Advances Against Majors

The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday.
RTTNews | vor 3Std 9 Minuten
German Exports Recover In June

German Exports Recover In June

Germany's exports grew for the first time in three months in June despite falling shipments to the US, data from Destatis revealed Thursday. Exports advanced 0.8 percent on a monthly basis in June, reversing a fall of 1.4 percent in May. Shipments were expected to rise 0.5 percent. Reflecting the impact of higher tariff, exports to the United States dropped 2.1 percent on a monthly basis.
RTTNews | vor 3Std 20 Minuten