Sensex, Nifty Edge Lower; IT Stocks Drag On Trade Worries

RTTNews | vor 3 Tagen
Sensex, Nifty Edge Lower; IT Stocks Drag On Trade Worries

(RTTNews) - Indian shares opened on a weak note on Friday after a Trump administration official called India the 'Maharaja' of tariffs and ramped up his criticism over the trade ahead of an expected tariff increase on August 27.

White House Trade Adviser Peter Navarro accused India of playing a "role in the bloodshed," in Ukraine by importing Russian oil, calling it a "laundromat for the Kremlin."

Traders also pared back wagers on imminent Federal Reserve interest-rate cuts and braced for Fed Chair Jerome Powell's speech at the Jackson Hole symposium.

The benchmark BSE Sensex was down 386 points, or half a percent, at 81,614 in early trade, while the broader NSE Nifty index dipped 124 points, or half a percent, to 24,960.

Among the prominent decliners, HDFC Bank, TCS, Tech Mahindra, ITC, ICICI Bank, Asian Paints and HCL Technologies all fell around 1 percent.

IDBI Bank fell over 2 percent on reports the government will complete the "core" phase of privatization this fiscal.

Goldiam International rallied 3.4 percent after raising Rs. 202 crore via a qualified institutional placement (QIP).

GMR Airports gained 1 percent on fund raising reports.

Texmaco Rail & Engineering rose over 2 percent on securing a Rs. 103.16 crore order from Leap Grain Rail Logistics.

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Japan Stock Market May Spin Its Wheels On Tuesday

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.
RTTNews | vor 12 Minuten
KOSPI May Run Out Of Steam On Tuesday

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.
RTTNews | vor 27 Minuten
RBA Minutes On Tap For Tuesday

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.
RTTNews | vor 1Std 27 Minuten
Swiss Market Ends Moderately Lower

Swiss Market Ends Moderately Lower

After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved slightly above the flat line in late afternoon trades on Monday, but quickly tumbled again to eventually settle on a weak note.
RTTNews | vor 5Std 25 Minuten
European Markets Close Weak After Cautious Session

European Markets Close Weak After Cautious Session

European stocks closed on a weak note on Monday after a cautious session as investors awaited key inflation data from major economies in the region, and looked for more details about U.S. - EU trade deal.
RTTNews | vor 5Std 46 Minuten
Canadian Market Down More Than 0.5% On Profit Taking

Canadian Market Down More Than 0.5% On Profit Taking

After opening slightly down, the Canadian market slipped deeper into the red on Monday, weighed down by losses in healthcare, consumer staples, utilities and materials sectors.
RTTNews | vor 6Std 26 Minuten
U.S. New Home Sales Pull Back From Upwardly Revised Level In July

U.S. New Home Sales Pull Back From Upwardly Revised Level In July

New home sales in the U.S. decreased from an upwardly revised level in the month of July, according to a report released by the Commerce Department on Monday. The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 652,000 in July after surging by 4.1 percent to an upwardly revised rate of 656,000 in June.
RTTNews | vor 8Std 10 Minuten