Sensex, Nifty Modestly Higher In Cautious Trade
(RTTNews) - Indian shares eked out modest gains in early trade on Friday as weaker U.S. growth data sent the dollar and bond yields tumbling and revived hopes for rate cuts by the Federal Reserve later this year.
A cautious undertone prevailed ahead of the exit poll and general election results due on Saturday and Tuesday, respectively.
The benchmark S&P BSE Sensex was up 227 points, or 0.3 percent, at 74,113 while the broader NSE Nifty index was up 60 points, or 0.3 percent, at 22,549.
UltraTech Cement, Bajaj Finance, Larsen & Toubro, Mahindra & Mahindra and Adani Enterprises climbed 2-3 percent in the Nifty pack while Tata Consumer Products, Kotak Mahindra Bank and LTIMindTree all fell over 1 percent.
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Canadian Shares Notably Lower
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Swiss Market Ends Lower On Growth Concerns
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U.S. Dollar Strengthens After Strong Retail Sales Data
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European Stocks Close Lower On Rate Cut Uncertainty, Growth Concerns
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U.S. Business Inventories Inch Up Slightly Less Than Expected In September
With a jump by retail inventories partly offset by dips by manufacturing and wholesale inventories, the Commerce Department released a report on Friday showing U.S. business inventories crept up by slightly less than expected in the month of September. The Commerce Department said business inventories inched up by 0.1 percent in September after climbing by 0.3 percent in August.
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U.S. Industrial Production Falls 0.3% In October As Boeing Strike, Hurricanes Continue To Weigh
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New York Manufacturing Index Soars To Nearly Three-Year High In November
A report released by the Federal Reserve Bank of New York on Friday showed regional manufacturing activity has seen a substantial turnaround in the month of November. The New York Fed said its general business conditions index skyrocketed to a positive 31.2 in November from a negative 11.9 in October, with a positive reading indicating growth.
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U.S. Import Prices Unexpectedly Rise 0.3% In October
The Labor Department released a report on Friday showing an unexpected increase by import prices in the U.S. in the month of October. The report said import prices rose by 0.3 percent in October after falling by 0.4 percent in September. Economists had expected import prices to edge down by 0.1 percent.
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