Sensex, Nifty Follow Global Peers Lower; IT Stocks Worst Hit

RTTNews | 636 days ago
Sensex, Nifty Follow Global Peers Lower; IT Stocks Worst Hit

(RTTNews) - Indian shares opened lower on Wednesday, mirroring weak cues from global markets on concerns over elevated inflation in the U.S. and delayed rate cuts by the Federal Reserve.

The benchmark S&P BSE Sensex was down 530 points, or 0.7 percent, at 71,035 in early trade while the broader NSE Nifty index slid 140.10 points, or 0.6 percent, to 21,603.

Tech shares led losses, with LTIMindTree, Wipro, Tech Mahindra and Infosys all falling around 2 percent after a jump in U.S. Treasury yields.

Private sector lender HDFC Bank was down 1.8 percent.

Adani Green rose over 2 percent, Adani Ports edged up marginally and Adani Energy Solutions was little changed after Moody's Investors Service revised its outlook on the firms from "Negative" to "Stable".

Paytm parent One97Communications, which is facing a serious risk of exodus of customers, slumped 8.4 percent.

Gujarat Gas declined 2.3 percent on disappointing Q3 results.

Mahindra & Mahindra rose half a percent ahead of its earnings release.

Zee Entertainment Enterprises dropped 1 percent after reporting lower Q3 revenue.

BHEL edged down slightly after posting a standalone net loss of Rs. 163 crores in Q3FY24.

read more
European Markets Close On Firm Note

European Markets Close On Firm Note

European stocks closed on a positive note on Tuesday as the passage of a short-term funding bill late Monday raised the possibility of the longest government shutdown in U.S. history coming to an end soon.
RTTNews | 1h 40min ago
Bay Street May Open Higher Again

Bay Street May Open Higher Again

Canadian stocks may open higher on Tuesday, riding on firm commodity prices. The passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history, is likely to aid sentiment.
RTTNews | 5h 47min ago
UK Unemployment Rate Highest Since 2021

UK Unemployment Rate Highest Since 2021

The UK unemployment rate increased to the highest since early 2021 in the third quarter, raising chances of an interest rate cut, official data revealed on Tuesday. The ILO jobless rate rose to 5.0 percent in the third quarter from 4.8 percent in the three months to August, the Office for National Statistics said. The rate was above economists' forecast of 4.9 percent.
RTTNews | 6h 42min ago
FTSE 100 Rises On Rate Cut Hopes; Vodafone Group Moves Up Sharply

FTSE 100 Rises On Rate Cut Hopes; Vodafone Group Moves Up Sharply

U.K.'s FTSE 100 index has moved up sharply on Tuesday, amid hopes of a rate cut by the Bank of England next month after data showed an increase in the nation's unemployment rate in the third quarter. The passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history is also aiding sentiment.
RTTNews | 6h 59min ago
CAC 40 Up 0.6%; Hermes International, LVMH Among Top Gainers

CAC 40 Up 0.6%; Hermes International, LVMH Among Top Gainers

French stocks are up firmly in positive territory on Tuesday, extending gains from the previous session, following the passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history.
RTTNews | 7h 26min ago
German Economic Confidence Weakens In November

German Economic Confidence Weakens In November

German economic confidence weakened moderately in November as investors became concerned about the ability of economic policies to address its key issues, a monthly survey conducted by the think tank ZEW showed Tuesday. The economic sentiment index fell unexpectedly to 38.5 in November from 39.3 in the previous month. The reading was forecast to rise to 41.0.
RTTNews | 8h 23min ago