Sensex, Nifty Decline Amid Global Selloff; Pharma Stocks Shine

RTTNews | 339 days ago
Stocktwits
Sensex, Nifty Decline Amid Global Selloff; Pharma Stocks Shine

(RTTNews) - Indian shares fell sharply on Friday amid a global sell-off as weak manufacturing data as well as mixed tech earnings sparked worries about a U.S. recession.

A measure of U.S. manufacturing activity contracted sharply in July and weekly jobless claims jumped to an 11-month high, heightening concerns about a potential recession and worries that the Federal Reserve might be slow in cutting interest rates.

All eyes now remain on the U.S. payrolls data, due later in the day that could shed some more light on the state of the economy and the Fed's rate path.

The benchmark S&P/BSE Sensex ended the session down 885.60 points, or 1.08 percent, at 80,981.95 while the broader NSE Nifty index closed at 24,717.70, down 293.20 points, or 1.17 percent from its previous close.

Metal and auto stocks paced the declines, with Hindalco, JSW Steel, Maruti Suzuki India, Tata Motors and Eicher Motors falling 4-5 percent.

On the positive side, Sun Pharma, Dr Reddy's Laboratories, HDFC Bank and Divis Laboratories rose 1-2 percent.

Stocktwits
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Eurozone Retail Sales Drop For First Time In 5 Months; Services Output Fall

Eurozone Retail Sales Drop For First Time In 5 Months; Services Output Fall

Euro area retail sales decreased for the first time in five months and services production declined in May, suggesting a slowdown in the second quarter. Retail sales logged a monthly fall of 0.7 percent in May, reversing April's 0.3 percent increase, Eurostat reported Monday. Sales were expected to drop 0.8 percent. Another data from Eurostat showed that services production decreased 0.3 percen
RTTNews | 27 minutes ago
Cautious Optimism Lifts DAX

Cautious Optimism Lifts DAX

The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is trading in the green zone on Monday amidst a mood of cautious optimism.
RTTNews | 1h 30min ago
Nissan Stock Slips On Reports Of Talks With Foxconn To Collaborate On EV Production In Japan

Nissan Stock Slips On Reports Of Talks With Foxconn To Collaborate On EV Production In Japan

Japanese automaker Nissan Motor Co Ltd. (NSANF.PK, NSANY.PK) is in talks with Taiwan's electronics major Foxconn to partner on the production of electric vehicles or EVs in Japan, Nikkei reported. The potential joint venture collaboration is expected to save Nissan's Oppama plant from the risk of closure. Following the news, Nissan Motor shares closed Monday's trading in Tokyo down 5%.
RTTNews | 1h 34min ago
Eurozone Investor Confidence Strongest In More Than 3 Years

Eurozone Investor Confidence Strongest In More Than 3 Years

Eurozone investor confidence rose to the highest level in more than three years in July suggesting that fears of recession triggered by the US tariff shocks are completely off the table, survey data from the behavioral research institute Sentix showed on Monday. The investor confidence index advanced to 4.5 in July from 0.2 in June. The reading was the highest since February 2022 and also stayed
RTTNews | 2h 15min ago
German Industrial Production Rebounds In May

German Industrial Production Rebounds In May

Germany's industrial production rebounded in May driven by robust demand for automobile and pharmaceutical products, official data revealed on Monday. Data released by Destatis showed that industrial production grew 1.2 percent in May from a month ago, confounding expectations for a decline of 0.6 percent. Output in April was revised down to show a 1.6 percent fall compared to the 1.4 percent d
RTTNews | 2h 42min ago
Commodity Currencies Slide Amid Risk-off Mood

Commodity Currencies Slide Amid Risk-off Mood

The commodity-linked currencies such as the Australia, the New Zealand and the Canadian dollars weakened against other major currencies in the Asian session on Monday, as Asian stock markets traded lower amid ongoing concerns about U.S. tariffs after U.S. President Donald Trump announced that his government will send letters to around 170 trading partners outlining new, simple unilateral tariffs that will take effect on August 1.
RTTNews | 2h 55min ago
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