Sensex, Nifty Extend Losses For Seventh Day On Fed Worries

RTTNews | 864 days ago
Sensex, Nifty Extend Losses For Seventh Day On Fed Worries

(RTTNews) - Indian shares ended lower for a seventh consecutive session on Monday, despite managing to cut some early losses on the back for firm cues from European markets.

Inflationary concerns weighed on sentiment after data on Friday showed U.S. consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased by the most in nearly two years last month amid a surge in wage gains. The Fed's preferred inflation gauge also accelerated, adding to markets fears the Fed will have to raise interest rates further and for an extended period.

The benchmark S&P/BSE Sensex hit an intraday low of 58,937.64 before seeing some recovery to end the session down 175.58 points, or 0.30 percent, at 59,288.35.

The broader Nifty index also cut early losses to settle 73.10 points, or 0.42 percent, lower at 17,392.70 amid strong buying in the financial sector.

Mid and small caps underperformed, with the BSE Midcap index and the Smallcap index finishing down 0.69 percent and 1.28 percent, respectively.

Adani Enterprises extended recent losses to close 9.7 percent lower while Infosys, Tata Steel, UPL and Bajaj Auto fell 3-5 percent.

Among those that gained, SBI, HDFC Life, Kotak Mahindra Bank, Power Grid Corp and ICICI Bank rose 1-2 percent.

read more
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 36 minutes ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 38 minutes ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 1h 48min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 2h 22min ago
DAX Modestly Up After Hitting Fresh Record High

DAX Modestly Up After Hitting Fresh Record High

German stocks are up in positive territory on Thursday, extending gains from the previous three sessions, as investors continue to focus on US-EU trade negotiations. Data showing a drop in Germany's consumer price inflation in the month of June is aiding sentiment.
RTTNews | 2h 42min ago
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 3h 37min ago
European Shares Extend Gains On Trade Deal Optimism

European Shares Extend Gains On Trade Deal Optimism

European stocks rose for a fourth consecutive session on Thursday as optimism prevailed about a potential trade deal between the U.S. and the European Union. EU trade chief Maros Sefcovic said there was good progress on a framework trade agreement and a deal may even be possible within days.
RTTNews | 4h 10min ago