Sensex, Nifty End Notably Higher On Firm Global Cues

RTTNews | 10天前

(RTTNews) - Indian shares rose notably on Wednesday after Federal Reserve Chair Jerome Powell signaled two more quarter-point interest-rate cuts this year, citing a sharp slowdown in hiring.

Investor sentiment was also underpinned by a weaker dollar in international markets and falling oil prices amid fears of an impending supply glut and trade tensions between the U.S. and China.

As Sino-U.S. trade tensions rise, media reports suggested that the United States appears ready to fast-track a bilateral trade deal with India to diversify supply chains away from China.

On Tuesday, U.S. Treasury Secretary Scott Bessent said that Washington expects support from India and other allied nations in its fight against China over its export restrictions on rare earth minerals.

The benchmark BSE Sensex jumped 575 points, or 0.70 percent, to 82,605.43, snapping a two-day losing streak following mostly positive cues from global markets.

The broader NSE Nifty index closed up 178 points, or 0.71 percent, at 25,323.55, while the BSE mid-cap and small-cap indexes rallied 1.1 percent and 0.8 percent, respectively.

The market breadth was strong on the BSE, with 2,505 shares rising while 1,657 shares declined and 164 shares closed unchanged.

Bajaj Finance soared a little over 4 percent and Bajaj FinServ surged 3.1 percent, while Asian Paints, Larsen & Toubro, Trent, UltraTech Cement, Eternal and Adani Ports all rose around 2 percent.

Globally, Asian markets snapped three days of losses on Fed rate cuts hopes and new data showing China's deflation eased in September.

European stocks were mostly higher in early trade after LVMH, the owner of Louis Vuitton and Christian Dior, unexpectedly returned to sales growth in the third quarter, supported by an improvement in Chinese demand.

Gold scaled a new peak at $4,180.29 an ounce as the dollar held losses following dovish remarks from Fed Chair Jerome Powell and President Trump's comments defending his tariff policy against BRICS members, claiming the bloc was "an attack on the dollar".

Oil steadied near five-month lows after the International Energy Agency (IEA) warned that the global oil market is expected to be oversupplied by nearly four million barrels per day next year—an increase of almost 20 percent from its previous forecast.

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RTTNews | 23小时18分钟前

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RTTNews | 1天前

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RTTNews | 1天前

EURUSD	1.1629	GBPUSD	1.33038	AUDUSD	0.65091
USDJPY	152.864	USDCAD	1.3994	USDCHF	0.7955