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Sensex, Nifty Open Higher On Rate Cut Hopes

RTTNews | 83 dagar sedan

Sensex, Nifty Open Higher On Rate Cut Hopes

(RTTNews) - Indian shares were notably higher on Wednesday as signs of easing retail inflation sparked hopes for more rate cuts from the Reserve Bank of India in coming months.

Official data showed India's consumer price inflation eased further in April to the lowest level in nearly six years amid a slower rise in food prices.

Consumer price inflation eased more-than-expected to 3.16 percent in April from 3.34 percent in February.

The expected rate was 3.27 percent. Moreover, this was the lowest since July 2019, when prices had risen 3.15 percent.

The benchmark S&P/BSE Sensex rose 490 points, or 0.6 percent, to 81,640 in early trade while the broader NSE Nifty index was up 172 points, or 0.7 percent, at 24,750. Tata Power rose over 1 percent ahead of its earnings release.

Bharti Airtel rallied 2.2 percent after reporting a 77 percent jump in Q4 net profit.

Bharti Hexacom jumped 2.3 percent after quarterly profit more than doubled.

Similarly, Garden Reach Shipbuilders & Engineers soared nearly 12 percent after more than doubling its quarterly net profit.

Tata Steel climbed 5 percent as it announced a Rs. 15,000 crore capex plan.

Tata Motors fell 1.5 percent after reporting a 51 percent decline in its quarterly consolidated net profit

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U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.

RTTNews | 1h 56minuter sedan

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

RTTNews | 2h 42minuter sedan

U.S. Trade Deficit Narrows Slightly More Than Expected In June

U.S. Trade Deficit Narrows Slightly More Than Expected In June

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

RTTNews | 3h 47minuter sedan

Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | 3h 49minuter sedan

Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.

RTTNews | 4h 0minuter sedan

FTSE 100 Advances On Upbeat Earnings

FTSE 100 Advances On Upbeat Earnings

The UK market is modestly higher on Tuesday, extending gains from previous session, thanks to some upbeat corporate earnings announcements, and expectations that the Federal Reserve will cut interest rate in the near future to spur economic growth.

RTTNews | 4h 29minuter sedan

Pound Rises As Traders Await BoE Monetary Policy Meeting

Pound Rises As Traders Await BoE Monetary Policy Meeting

The British pound strengthened against other major currencies in the European session on Tuesday, as traders shift their focus to the Bank of England's (BoE) monetary policy announcement on Thursday.

RTTNews | 4h 40minuter sedan

CAC 40 Modestly Higher

CAC 40 Modestly Higher

The French stock market is modestly higher Tuesday afternoon with investors mostly reacting to earnings updates and a mixed batch of regional economic data. Expectations of a rate cut by the Federal Reserve sometime soon aid sentiment a bit.

RTTNews | 5h 0minuter sedan

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