Sensex, Nifty Move Lower On Fed Worries; ONGC Shares Soar 5%

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Sensex, Nifty Move Lower On Fed Worries; ONGC Shares Soar 5%

(RTTNews) - Indian shares opened lower on Monday, tracking weak global markets after new data closely watched by the U.S. Federal Reserve showed that prices continued to rise at a rapid pace in August.

The benchmark S&P BSE Sensex fell 305 points, or half a percent, to 57,121 in early trade, while the broader NSE Nifty index was down 76 points, or half a percent, at 17,018.

Infosys, Titan Company, Nestle India, Kotak Mahindra Bank and Hindalco dropped 1-2 percent in the Nifty pack, while ONGC soared 5.4 percent after the government cut a windfall tax on domestically produced crude oil.

Coal India gained 1.4 percent after it reported 12 percent increase in coal production in September.

Divis Laboratories, Apollo Hospitals and NTPC added 1-2 percent.

SBI was down 0.6 percent after hiking lending rates.

Zydus Lifesciences rallied 2.6 percent. The drug maker has received approval from the U.S. FDA to market Sildenafil in the American market.

63 Moons Technologies jumped 3.2 percent. The Multi Commodity Exchange of India has extended its contract with the company for three months.

Tata Consultancy Services dropped 0.6 percent despite announcing a second interim dividend for the financial year FY23.

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Australian Market Turns To Modest Gains In Mid-market

Australian Market Turns To Modest Gains In Mid-market

The Australian market is turning its early losses to modest gains in mid-market on Thursday, after being in the red most of the morning session, extending the gains in the previous six sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,300 level, with gains in financial and technology stocks nearly offset by weakness in mining stocks.
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Indian Market Likely To Open On Cautious Note

Indian Market Likely To Open On Cautious Note

Subdued GIFT Nifty, weak Asian stocks and the overnight mixed close on Wall Street point to a slightly negative start for Indian shares Thursday morning. Investors are likely to react to a slew of quarterly earnings announcements.
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Asian Markets Mixed Amid Cautious Trades

Asian Markets Mixed Amid Cautious Trades

Asian stock markets are trading mixed on Thursday, following the mixed cues from Wall Street overnight, as traders remain cautious amid continued uncertainty surrounding US President Donald Trump's trade policies, despite reaching trade deals between the U.S. and China as well as the U.S. and the U.K. Asian Markets closed mostly higher on Wednesday.
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Mild Upside Seen For Thai Stock Market

Mild Upside Seen For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just above the 1,215-point plateau and it's poised to inch higher again on Thursday.
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Japanese Market Significantly Lower

Japanese Market Significantly Lower

The Japanese market is trading significantly lower on Thursday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling below the 37,800 level, with weakness across most sectors led by index heavyweights, automakers and technology stocks.
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Indonesia Bourse May Test Resistance At 7,000 Points

Indonesia Bourse May Test Resistance At 7,000 Points

The Indonesia stock market has finished higher in two straight sessions, improving more than 150 points or 2.2 percent in that span. The Jakarta Composite Index now rests just beneath the 6,980-point plateau although investors may lock in gains on Thursday.
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Oversold Hang Seng Nonetheless Called Higher Again

Oversold Hang Seng Nonetheless Called Higher Again

The Hong Kong stock market bounced higher again on Wednesday, one day after snapping the eight-day winning streak in which it had surged almost 1,600 points or 7.1 percent. The Hang Seng Index now sits just above the 23,640-point plateau although it may tick higher again on Thursday.
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Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian market is trading slightly lower on Thursday, snapping a six-session winning streak, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,300 level, with weakness across most sectors led by gold miners and energy stocks.
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