Sensex, Nifty Gain Led By FMCG Stocks

RTTNews | vor 713 Tagen
Sensex, Nifty Gain Led By FMCG Stocks

(RTTNews) - Indian shares ended Wednesday's session higher, with the Nifty crossing 18,700 for the first time in 2023 amid hopes of interest rate pause by RBI and the Federal Reserve.

The RBI announces its interest-rate decision on Thursday, with economists expecting status-quo on rates.

The benchmark S&P/BSE Sensex rose 350.08 points, or 0.56 percent, to 63,142.96 amid expectations that a reshuffle in the FTSE index on June 16 could lead to significant net inflows in the Indian equity market.

The broader NSE Nifty index settled 127.40 points, or 0.68 percent, higher at 18,726.40, led by FMCG stocks with Nestle India, Tata Consumer Products and Britannia Industries climbing 3-4 percent.

HDFC Life added 2.7 percent and BPCL jumped 3.3 percent.

On the losing side, Cipla and Kotak Mahindra Bank fell around 1 percent each.

Gold prices held steady in European trade and the dollar wobbled as investors looked ahead to key central bank meetings in the U.S., Europe and Japan next week.

As the inflation situation improves, the Fed is widely expected to pause its recent series of interest rate hikes.

Oil prices edged up in choppy trade as investors weighed fuel demand concerns against optimism over OPEC's recent decision extension of production cuts.

read more
Canadian Dollar Rises As Inflation Climbs

Canadian Dollar Rises As Inflation Climbs

The Canadian dollar advanced against its most major counterparts in the New York session on Tuesday, after a data showed that inflation accelerated in April.
RTTNews | vor 48 Minuten
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland market suffered a mild setback in early trades on Tuesday, but recovered soon and then stayed firm right till the end of the session to finish with a modest gain. Investors tracked corporate news and the developments on the geopolitical front.
RTTNews | vor 1Std 36 Minuten
European Stocks Recover After Weak Start, Close Broadly Higher

European Stocks Recover After Weak Start, Close Broadly Higher

European stocks closed broadly higher on Tuesday amid easing tariff worries, and expectations that Russia and Ukraine would soon begin ceasefire negotiations. The UK-EU trade agreement on Monday contributed as well to the positive mood in European markets.
RTTNews | vor 1Std 56 Minuten
TSX Extends Gains To 10th Straight Session, Hits New Record High

TSX Extends Gains To 10th Straight Session, Hits New Record High

Canadian shares are up in positive territory Tuesday morning, extending gains to a tenth straight session, amid easing concerns about tariffs, and some brisk buying in gold stocks on safe-haven appeal following Moody's downgrading U.S. credit rating, citing debt concerns. Investors are also digesting a report showing a drop in Canada's annual inflation rate.
RTTNews | vor 3Std 27 Minuten
Honda Cuts EV Sales, Investment Targets As It Shifts Focus

Honda Cuts EV Sales, Investment Targets As It Shifts Focus

Honda Motor Co., Ltd. announced Tuesday that it is realigning automobile business strategy, with a cut in planned electric vehicle or EV sales ratio, and investment for automobile electrification due to the recent market slowdown. Meanwhile, Honda expects a minimal increase in investment related to Hybrid Electric Vehicle or HEV business.
RTTNews | vor 4Std 28 Minuten
U.S. Dollar Slides Amid U.S. Tariff Uncertainty

U.S. Dollar Slides Amid U.S. Tariff Uncertainty

The U.S. dollar weakened against other major currencies in the European session on Tuesday, due to fiscal and economic concerns amid uncertainties about U.S. tariffs.
RTTNews | vor 7Std 23 Minuten