Sensex Down Over 200 Points In Early Trade; Nifty Dips Below 15,250

RTTNews | 1190 dias atrás
Sensex Down Over 200 Points In Early Trade; Nifty Dips Below 15,250

(RTTNews) - Indian shares opened lower on Monday after U.S. stocks suffered their biggest weekly percentage decline in two years last week on concerns over high inflation and aggressive interest-rate hikes by major central banks.

Federal Reserve Governor Christopher Waller on Saturday said he would support another 75-basis-point rate increase at the central bank's July meeting.

Fed Chair Jerome Powell will testify to the House on Wednesday and Thursday, with analysts expecting him to reiterate his commitment to fight inflation with aggressive rate hikes if needed.

The benchmark S&P BSE Sensex dropped 214 points, or 0.4 percent, to 51,146 in early trade, while the broader NSE Nifty index was down 73 points, or half a percent, at 15,220.

Commodity-related stocks succumbed to selling pressure, with UPL. Coal India, Tata Steel, Hindalco and ONGC losing 3-5 percent.

Adani Wilmar tumbled 3 percent after slashing edible oil prices.

Nazara Technologies fell about 1 percent on news the gaming company is increasing its stake in Absolute Sports.

Cipla was little changed after it agreed to buy 21.05 per cent stake for Rs 25 crore in Achira Labs Pvt Ltd.

Similarly, Aurobindo Pharma traded flat after it bought a 51 percent stake in GLS Pharma.

Zydus Wellness lost about 1 percent. The company said it will stop operations at its Sitarganj production facility in Uttarakhand.

read more
European Shares Slide As Auto Stocks Weigh

European Shares Slide As Auto Stocks Weigh

European stocks were broadly lower on Monday as investors awaited a key U.S. inflation reading as well as comments from several Federal Reserve officials this week for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 31 minutos atrás
Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian Shares Mixed As Investors Ponder Fed's Rate Path

Asian stocks turned in a mixed performance on Monday as investors wondered how U.S. President Donald Trump's crackdown on immigration will reshape the world's largest economy in the short and long term.
RTTNews | 54 minutos atrás
Dollar Edges Up After Fed's Cautious Rate Cut

Dollar Edges Up After Fed's Cautious Rate Cut

The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of 6 currencies edged up during the week ended September 19 amidst a cautious rate cut by the Federal Reserve as well as status quo by Bank of England and Bank of Japan.
RTTNews | 1 h 23 min atrás
European Shares Seen Mostly Lower In Cautious Trade

European Shares Seen Mostly Lower In Cautious Trade

European stocks are seen opening flat to slightly lower on Monday as investors react to the Trump administration's immigration crackdown on H-1B visas and shift focus to a slew of U.S. economic data as well as speeches by Fed Chair Jerome Powell and other Fed officials due this week for additional clues on the future path of interest rates.
RTTNews | 3 h 59 min atrás
China Leaves Key Interest Rates Unchanged

China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.
RTTNews | 4 h 10 min atrás
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Monday, but adding to the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,800.00 level, with gains across most sectors led by mining and financial stocks.
RTTNews | 6 h 7 min atrás
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as the recent interest rate cut decision by the US Fed and the forecast by Fed officials of two more rate cuts this year but just one next year, continue to lift market sentiment. However, major currencies in the region weakened against the US dollar. Asian markets closed mixed on Friday.
RTTNews | 6 h 27 min atrás