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Sensex, Nifty End Modestly Lower In Year-end Trade

RTTNews | 585 days ago

Sensex, Nifty End Modestly Lower In Year-end Trade

(RTTNews) - Indian shares fell slightly on Friday but ended the year with significant gains on hopes that global central banks led by the U.S. Federal Reserve will cut interest rates next year in view of slowing inflation.

The benchmark S&P BSE Sensex dropped 170.12 points, or 0.23 percent, to 72,240.26 on the last trading day of the year while the broader NSE Nifty index settled 47.30 points, or 0.22 percent, lower at 21,731.40.

Eighteen shares advanced in the Nifty pack, while thirty-one declined and one stock closed unchanged.

BPCL led losses to close 3.2 percent lower while Coal India, Infosys, ONGC and SBI all fell over 1 percent.

Among the prominent gainers, Tata Consumer Products jumped 4.6 percent on merger news and Tata Motors rallied 3.4 percent while Adani Enterprises, Nestle India and Bajaj Auto rose 1-2 percent.

The Sensex gained more than 18 percent in 2023 to reach new highs while the Nifty index jumped over 19 percent.

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U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.

RTTNews | 2h 6min ago

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

RTTNews | 2h 52min ago

U.S. Trade Deficit Narrows Slightly More Than Expected In June

U.S. Trade Deficit Narrows Slightly More Than Expected In June

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

RTTNews | 3h 57min ago

Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | 3h 59min ago

Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.

RTTNews | 4h 11min ago

FTSE 100 Advances On Upbeat Earnings

FTSE 100 Advances On Upbeat Earnings

The UK market is modestly higher on Tuesday, extending gains from previous session, thanks to some upbeat corporate earnings announcements, and expectations that the Federal Reserve will cut interest rate in the near future to spur economic growth.

RTTNews | 4h 39min ago

Pound Rises As Traders Await BoE Monetary Policy Meeting

Pound Rises As Traders Await BoE Monetary Policy Meeting

The British pound strengthened against other major currencies in the European session on Tuesday, as traders shift their focus to the Bank of England's (BoE) monetary policy announcement on Thursday.

RTTNews | 4h 50min ago

CAC 40 Modestly Higher

CAC 40 Modestly Higher

The French stock market is modestly higher Tuesday afternoon with investors mostly reacting to earnings updates and a mixed batch of regional economic data. Expectations of a rate cut by the Federal Reserve sometime soon aid sentiment a bit.

RTTNews | 5h 10min ago

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