Sensex, Nifty Modestly Higher On Dovish Fed Minutes

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Sensex, Nifty Modestly Higher On Dovish Fed Minutes

(RTTNews) - Indian shares opened on a positive note Thursday on the back of positive global cues after the minutes of the Fed's early-November policy meeting showed a "substantial majority" of Fed officials supported slowing down the pace of interest rate hikes at upcoming meetings.

The benchmark S&P BSE Sensex was up 260 points, or 0.4 percent, at 61,772 in early trade, while the broader NSE Nifty index was up 77 points, or 0.4 percent, at 18,344.

HDFC Bank, BPCL, HDFC Life, Apollo Hospitals Enterprise and Tata Consumer Products climbed 1-3 percent in the Nifty pack, while Adani Enterprises fell over 1 percent on reports that the company is considering issuing about $1.8 billion to $2.4 billion in new shares as soon as next year.

Tata Consumer Products rallied 2.5 percent on a report that it plans to acquire Bisleri for Rs 7,000 crore.

Glenmark Pharma edged down slightly after receiving a warning letter from the U.S. FDA for its Goa unit.

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U.S. Construction Spending Unexpectedly Sees Further Downside In June

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.
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U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.
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U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.
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Eurozone Inflation Steady At 2% ECB Target

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.
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