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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New York Manufacturing Index Edges Modestly Lower In May

New York Manufacturing Index Edges Modestly Lower In May

A report released by the Federal Reserve Bank of New York said regional manufacturing activity continued to decline modestly in the month of May. The New York Fed said its general business conditions index edged down to a negative 9.2 in May from a negative 8.1 in April, with a negative reading indicating contraction. Economists had expected the index to dip to a negative 10.0.
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Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philadelphia-area manufacturing activity remained weak in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity jumped to a negative 4.0 in May from a negative 26.4 in April, but a negative reading still indicates contraction.
RTTNews | 1h 13minuter sedan
U.S. Retail Sales Inch Up In Line With Estimates In April

U.S. Retail Sales Inch Up In Line With Estimates In April

A report released by the Commerce Department on Thursday showed a slight increase by U.S. retail sales in the month of April. The Commerce Department said retail sales crept up by 0.1 percent in April after surging by an upwardly revised 1.7 percent in March. Economists had expected retail sales to inch up by 0.1 percent compared to the 1.4 percent jump originally reported for the previous month.
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U.S. Producer Prices Unexpectedly Decrease In April

U.S. Producer Prices Unexpectedly Decrease In April

Producer prices in the U.S. unexpectedly decreased in the month of April, according to a report released by the Labor Department on Thursday. The Labor Department said its producer price index for final demand fell by 0.5 percent in April following a revised unchanged reading in March. Economists had expected producer prices to rise by 0.2 percent.
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Eurozone GDP Expands 0.3% In Q1; Employment Growth Improves

Eurozone GDP Expands 0.3% In Q1; Employment Growth Improves

Euro area economic growth accelerated less than estimated in the first quarter and employment logged a faster increase, flash estimate from Eurostat showed on Thursday. Gross domestic product expanded 0.3 percent on a quarterly basis, which was revised down from the 0.4 percent growth estimated on April 30. This followed the fourth quarter's 0.2 percent expansion.
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U.S. Weekly Jobless Claims Unchanged From Upwardly Revised Level

U.S. Weekly Jobless Claims Unchanged From Upwardly Revised Level

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in unchanged in the week ended May 10th The report said initial jobless claims came in at 229,000 last week, unchanged from the previous week's revised level. Economists had expected jobless claims to tick up to 229,000 from the 228,000 originally reported for the previous week.
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U.S. Industrial Production Unexpectedly Unchanged In April

U.S. Industrial Production Unexpectedly Unchanged In April

With a rebound by utilities output offset by decreases by manufacturing and mining output, the Federal Reserve released a report on Thursday showing industrial production in the U.S. came in unchanged in the month of April.
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ThyssenKrupp Shares Hit On Weak Adj. Earnings, Orders In Q2; Backs Outlook

ThyssenKrupp Shares Hit On Weak Adj. Earnings, Orders In Q2; Backs Outlook

Shares of ThyssenKrupp AG were losing around 14 percent in German trading after the industrial conglomerate reported Thursday sharply lower adjusted operating profit in its second quarter amid weak revenues and orders due to market conditions, even as it truned around to a net profit. Further, the company maintained its fiscal 2025 forecast.
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