Indian Markets Closed For Diwali Balipratipada

RTTNews | 604 days ago
Indian Markets Closed For Diwali Balipratipada

(RTTNews) - Indian stock markets remain closed today for Diwali Balipratipada.

Benchmark indexes Sensex and Nifty fell around half a percent each on Monday, tracking mixed global cues and un uptick in U.S. Treasury yields. The rupee ended 4 paise lower at 83.32 against the dollar.

India's consumer price inflation eased less-than-expected in October to the lowest level in four months but remained within the RBI's tolerance band of 2-6 percent for the second straight month, data from the National Statistical Office showed on Monday.

The consumer price index climbed 4.87 percent year-over-year in October, slower than the 5.02 percent rise in September. Economists had forecast the inflation rate to moderate to 4.80 percent.

Asian markets were mostly higher this morning, though the upside remained capped as investors await U.S. consumer price inflation data later in the day for important clues on the likelihood of another U.S. interest rate hike in December.

U.S. CPI data is expected to show inflation easing to a year-on-year rate of 3.3 percent in October from 3.7 percent in the prior month.

Oil and gold prices were little changed with a negative bias in early Asian trade.

U.S. stocks ended mixed overnight amid lingering concerns regarding the country's fiscal deficits and debt affordability.

Underlying sentiment was underpinned after the New York's Fed survey showed American consumers' short-term inflation expectations fell in October.

The Dow inched up 0.2 percent while the tech-heavy Nasdaq Composite slipped 0.2 percent and the S&P 500 finished marginally lower following Friday's strong rally.

European stocks closed higher on Monday as investors looked ahead to key inflation data and the highly anticipated Biden-Xi meeting on the sidelines of the G20 leaders' summit.

The pan European STOXX 600 jumped 0.8 percent. The German DAX rose 0.7 percent, France's CAC 40 gained 0.6 percent and the U.K.'s FTSE 100 added 0.9 percent.

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