Sensex, Nifty Nosedive As Recession Worries Mount

RTTNews | Před 1066 dny
Sensex, Nifty Nosedive As Recession Worries Mount

(RTTNews) - Indian shares reversed course to end sharply lower on Thursday amid concerns that higher U.S. interest rates could lead to more capital outflows from emerging markets, including India.

After announcing a 75-basis point rate hike on Wednesday and leaving the door open for another rate increase of that magnitude in July, Fed Chair Jerome Powell said the central bank cannot control all the factors driving inflation.

With more rate hikes expected in the coming months, fears mounted that the Fed might trigger a recession sometime in the next year with its aggressive rate action.

Domestic stock markets opened with gains but soon reversed course to end deep in the red, tracking weak European equities and slumping U.S. stock futures.

The benchmark S&P BSE Sensex hit an intraday high 53,142.50 before reversing direction to end the session down 1,045.60 points, or 1.99 percent, at 51,495.79 on concerns about the impact of surging inflation on economic growth and corporate earnings.

Likewise, the broader NSE Nifty index fell 331.555 points, or 2.11 percent, to 15,360.60 amid the expiry of weekly F&O contracts.

Selling was seen across the board, with auto and commodity stocks bearing the brunt of the selling. Tata Motors, Coal India, ONGC, Tata Steel and Hindalco slumped 5-7 percent.

FMCG stocks such as Nestle India and Britannia Industries eked out modest gains on defensive buying.

read more
U.S. Dollar Higher On Trade Hopes

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.
RTTNews | Před 20 h 46 min
Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.
RTTNews | Před 22 h 36 min
European Stocks Close Week On Positive Note

European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.
RTTNews | Před 22 h 59 min
Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.
RTTNews | Před 23 h 47 min
U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
RTTNews | Před 1 dnem
U.S. Import, Export Prices Unexpectedly Inch Higher In April

U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.
RTTNews | Před 1 dnem
Eurozone Trade Surplus Surges On Exports To US

Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.
RTTNews | Před 1 dnem