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

RTTNews | 1132 days ago
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
Canadian Stocks Climb As U.S.-Canada Talks Continue

Canadian Stocks Climb As U.S.-Canada Talks Continue

Canada's stock market scaled a new high on Friday as traders expressed optimism in the continuing high-level U.S.-Canada trade negotiations even as August 1 deadline is closing in.
RTTNews | 2h 10min ago
Gold Slips As U.S. Tariff Concerns Start To Ease

Gold Slips As U.S. Tariff Concerns Start To Ease

Gold prices fell modestly on Friday as investors see a glimpse of positivity with news of more countries signing deals with the US coming in and other major US trading partners brainstorming with their US counterparts to secure a deal before August 1.
RTTNews | 2h 18min ago
Crude Falls As Chevron Allowed To Start Operations In Venezuela

Crude Falls As Chevron Allowed To Start Operations In Venezuela

Crude oil fell on Friday on reports that the U.S. might allow partners of Venezuela's state-run PDVSA to resume operations, sparking concerns of over-supply. Earlier in the day, crude oil traded in the positive territory as the U.S. signed a spate of trade deals with its major trading partners in the past few days.
RTTNews | 2h 21min ago
U.S. Dollar Firms On Easing Trade Tensions

U.S. Dollar Firms On Easing Trade Tensions

The U.S. dollar advanced against its major counterparts in the New York session on Friday, as investors awaited trade talks between the country and key trading partners.
RTTNews | 3h 55min ago
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

The Switzerland market ended notably lower on Friday as uncertainty about Trump administration's tariff decisions and a few disappointing earnings updates weighed on sentiment.
RTTNews | 7h 25min ago
Russia Slashes Interest Rates Again On Easing Price Pressures

Russia Slashes Interest Rates Again On Easing Price Pressures

Russia's central bank lowered the key interest rate massively for a second policy session in a row on Friday after policymakers assessed that inflationary pressures are declining and the economy is on a return to balanced growth.
RTTNews | 10h 59min ago
Bay Street Seen Opening With Negative Bias

Bay Street Seen Opening With Negative Bias

Canadian shares are likely to open with a slightly negative bias Friday morning, weighed down by uncertainty about tariffs, and lower bullion prices. Investors are also likely to react to earnings updates. The market is likely to move in a tight range for much of the day's trading session.
RTTNews | 12h 9min ago