Sensex Soars 721 Points On Wall Street Cues; Nifty Tops 18,000

RTTNews | hace 949
Sensex Soars 721 Points On Wall Street Cues; Nifty Tops 18,000

(RTTNews) - Indian shares rose sharply on Monday after a sharp slide last week on fears of a global recession and concerns over China's worsening COVID situation.

Positive Wall Street cues offered some support after data showed U.S. inflation cooled further in November.

Other Asian markets followed Wall Street higher while major European markets were closed for Christmas.

The benchmark S&P/BSE Sensex ended the session up 721.13 points, or 1.20 percent, at 60,566.42, while the broader NSE Nifty index settled 207.80 points, or 1.17 percent higher, at 18,014.60.

Buying was seen across the board, barring pharma stocks. Bajaj FinServ, Coal India, Hindalco, IndusInd Bank and SBI jumped 3-4 percent.

Central Bank of India rallied 4.9 percent on fund raising reports.

GPT Infraprojects soared 20 percent after its arm RMS GPT Ghana bagged an order worth Rs 123 crore.

Welspun Corp surged 6.7 percent after commissioning a coke plant in Gujarat.

NDTV added 1.3 percent after founders Prannoy Roy and his wife Radhika Roy agreed to sell 27.26 percent out of their remaining 32.26 percent shareholding in the news broadcaster to Adani Group.

Siemens India rose 1.5 percent on bagging a contract from the Indian Railways for the manufacture and maintenance of electric freight locomotives.

Pharma stocks faced selling pressure, with Dr Reddy's Laboratories, Divis Laboratories and Cipla losing 1-2 percent.

read more
U.S. Construction Spending Unexpectedly Sees Further Downside In June

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.
RTTNews | hace 8h 31min
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.
RTTNews | hace 8h 34min
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.
RTTNews | hace 8h 37min
Eurozone Inflation Steady At 2% ECB Target

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.
RTTNews | hace 9h 23min