Sensex, Nifty End Sharply Lower On Risk Aversion

RTTNews | hace 1135
Sensex, Nifty End Sharply Lower On Risk Aversion

(RTTNews) - Indian shares fell sharply on Tuesday amid heightened risk aversion, as rising COVID case counts in several regions fueled talk of another round of painful lockdowns in China, especially in Shanghai or Beijing.

Close to 30 million people now under some form of movement restrictions in China as authorities struggle to stop the spreading of the highly infectious BA.5 Omicron subvariant of the COVID-19 virus.

A worsening energy crisis in Europe and weak economic data from Germany and the U.K. also added to worries about a recession.

The benchmark S&P BSE Sensex plunged 508.62 points, or 0.94 percent, to 53,886.61, extending losses for a second straight session.

The broader NSE Nifty index ended the session down 157.70 points, or 0.97 percent, at 16,058.30 ahead of retail inflation data scheduled to be released later in the day.

Grasim, Infosys, BPCL, Hindalco and Eicher Motor fell 2-3 percent while state-run utility NTPC topped the gainers list to close 1.4 percent higher.

The rupee plunged to close at a record low of 79.61 (provisional) as the dollar surged in international markets ahead of the release of a highly anticipated U.S. inflation report.

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UK Inflation Hits 18-Month High

UK Inflation Hits 18-Month High

UK consumer price inflation accelerated to an 18-month high in July on airfares and food prices, suggesting that the Bank of England is likely to delay further easing. The consumer price index posted an annual growth of 3.8 percent after rising 3.6 percent in June, the Office for National Statistics reported Wednesday.
RTTNews | hace 28 minutos
Australian Dollar Falls Amid RBA Rate Cut Speculation

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The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as traders expect two or more rate cuts if inflation continues to decline as anticipated. Earlier this month, the Reserve Bank of Australia (RBA) lowered its cash rate to 3.60 percent from 3.85 percent, as widely expected.
RTTNews | hace 1h 17min
New Zealand Hints At More Interest Rate Cuts

New Zealand Hints At More Interest Rate Cuts

The Reserve Bank of New Zealand reduced its key interest rate by 25 basis points to a three-year low and hinted at further easing on Wednesday. The Monetary Policy Committee, governed by Christian Hawkesby, voted to lower the Official Cash Rate to 3 percent from 3.25 percent. The bank has reduced the rate by 250 basis points since August 2024.
RTTNews | hace 1h 32min
NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps

NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps

The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand decided to cut its key interest rate by 25 basis points and signaled further easing.
RTTNews | hace 2h 53min
European Economic News Preview: UK Inflation Data Due

European Economic News Preview: UK Inflation Data Due

Consumer prices from the UK and the euro area 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 July. Inflation is seen rising to 3.7 percent in July from 3.6 percent in the previous month.
RTTNews | hace 3h 14min
China Leaves Benchmark Interest Rate Unchanged

China Leaves Benchmark Interest Rate Unchanged

The People's Bank of China maintained its interest rates on Wednesday, as Beijing focus on fiscal policy easing and more targeted measures. The central bank left its one-year loan prime rate at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
RTTNews | hace 3h 23min