Sensex, Nifty End Lower Amid Fed Worries, Weekly F&O Expiry

RTTNews | 985 days ago
Sensex, Nifty End Lower Amid Fed Worries, Weekly F&O Expiry

(RTTNews) - Indian shares closed lower on Thursday, extending losses for a second day running amid weak global cues and the expiry of weekly F&O contracts.

Recession worries gripped world markets after U.S. Federal Reserve officials announced another big rate hike and reiterated their support for further interest-rate hikes to curb rampant inflation reaching a 40-year high.

The Swiss National Bank and the Norges Bank in Norway Also hiked rates to combat inflation while the Bank of England was poised to announce another big rate hike later in the day.

Fears over China's slowdown and Russia's warning to escalate Ukraine war also sent world stocks to near a 2-year low.

Closer home, the benchmark S&P BSE Sensex ended the session down 337.06 points, or 0.57 percent, at 59,119.72, while the broader NSE Nifty index settled down 88.55 points, or half a percent, at 17,629.80.

Financials and PSU stocks led losses, with ONGC, HDFC, Axis Bank, HDFC Bank and Power Grid Corp losing 2-3 percent.

Eicher Motors, Maruti Suzuki India, Asian Paints, Hindustan Unilever and Titan Company shares rose 2-3 percent.

The Indian rupee plunged to a new record low versus the greenback on concerns over the quantum and pace of U.S. rate hikes going forward.

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Canadian Market Slightly Higher In Cautious Trade

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After a a weak start and a subsequent recovery, the Canadian market slipped into negative territory Tuesday morning, but edged higher again and was trading modestly higher about a couple of hours past noon. The early weakness was due to the uncertainty surrounding Trump's tariff moves, and downward revisions in Canadian and global growth forecast by the OECD.
RTTNews | 2h 54min ago
Swiss Market Ends Modestly Higher

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The Switzerland market retreated after a positive start Tuesday morning, and after moving along the flat line till around mid afternoon, found some momentum and eventually ended the day's session modestly Expectations of a rate cut by the Swiss central bank contributed to market's upmove.
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U.S. Job Openings Unexpectedly Increase In April

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Eurozone Inflation Falls Below 2% Target To Boost ECB Rate Cut Hopes

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