Sensex Tanks 984 Points; Nifty Ends Below 23,600

RTTNews | il y a 267
Sensex Tanks 984 Points; Nifty Ends Below 23,600

(RTTNews) - Indian shares tumbled on Wednesday amid much uncertainty over how U.S.-President-elect Trump's tariff proposals and Fed's restrictive monetary policy will impact markets.

Traders also awaited the highly anticipated Labour Department's report on U.S. consumer price inflation for October later in the day for additional clues regarding another interest-rate cut at the U.S. central bank's December meeting.

Traders are currently pricing in about two Fed rate cuts through June, against almost four seen at the start of last week.

Closer home, a rise in October retail inflation reduced expectations of a rate cut by the Reserve Bank of India (RBI) next month, adding to concerns around weak earnings and persisting selling pressure from foreign institutional investors.

The benchmark S&P/BSE Sensex fell 984.23 points, or 1.25 percent, to 77,690.05, while the broader NSE Nifty index settled down 324.40 points, or 1.36 percent, at 23,559.05.

Economy-sensitive metal and auto stocks led losses, with Eicher Motors, Tata Steel, Hindalco, Mahindra & Mahindra and Hero Moto Corp falling 3-4 percent.

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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 | il y a 18 minutes
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 | il y a 52 minutes
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 | il y a 1h 31min
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 | il y a 2h 2min
European Economic News Preview: BoE Likely To Cut Rates

European Economic News Preview: BoE Likely To Cut Rates

The Bank of England is widely expected to cut its interest rates for the fifth time in a year to support the economy even as inflation continued to stay stubbornly above the target. Markets anticipate a quarter-point cut, bringing the bank rate to 4.00 percent, which will be the lowest since early 2023.
RTTNews | il y a 3h 7min