Sensex, Nifty Rally As Dollar Slides; Metals And Financials Top Gainers

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(RTTNews) - Indian shares posted strong gains on Friday as the dollar rally against major rivals stalled and U.S. Treasury yields declined, boosting investors' risk appetite.

Risk sentiment improved after the Bank of England intervened to calm markets and the British government agreed to meet with the country's independent budget experts.

Additionally, new data showed the U.K. economy has not yet fallen into a recession. U.K. GDP for the second quarter of this year has been revised upwards to show growth of 0.2 percent from the previous estimate of a contraction of 0.1 percent.

Closer home, the Reserve Bank of India (RBI), raised its benchmark rate for the fourth straight time as expected, doing a fine tight rope walking between inflation, growth and stability.

After hiking the repo rate by 50 bps, Governor Shaktikanta Das said inflation will likely come down close to the target of 4 percent over a two-year period.

On the rupee, he said the central bank does not have any fixed dollar-rupee exchange rate and its market interventions are intended at curbing excessive volatility.

The GDP growth forecast for 2022-23 has been revised down to 7.0 percent from 7.2 percent.

The benchmark S&P BSE Sensex jumped 1,016.96 points, or 1.80 percent, to 57,426.92, with metal and financial stocks leading the surge.

The broader NSE Nifty index climbed 276.25 points, or 1.64 percent, to 17,094.35 while the rupee traded up 12 paise at 81.61 against the dollar in the afternoon.

Among the top gainers, Bajaj FinServ, Bajaj Finance, IndusInd Bank, Bharti Airtel and Hindalco rallied 3-6 percent.

ECB Minutes Show Policymakers Saw Room For More Easing

European Central Bank policymakers were looking forward to more interest rate cuts, but they saw the need for a cautious approach due to several uncertainties that could derail inflation from its path to the 2 percent target, the minutes of the December 11-12 policy session showed on Thursday.

RTTNews | il y a 5h 18min

U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January

Reflecting hopes for an improved economic growth and regulatory environment, the National Association of Home Builders released a report on Thursday unexpectedly showing a modest improvement by U.S. homebuilder confidence in the month of January. The report said the NAHB/Wells Fargo Housing Market Index crept up to 47 in January from 46 in December.

RTTNews | il y a 7h 21min

Philly Fed Index Skyrockets To Highest Level Since April 2021

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a substantial turnaround by regional manufacturing activity in the month of January. The Philly Fed said its diffusion index for current general activity skyrocketed to a positive 44.3 in January from a negative 10.9 in December, with a positive reading indicating growth.

RTTNews | il y a 7h 36min

U.S. Import Prices Inch Up 0.1% For Third Straight Month In December

Following yesterday's more closely watched report on consumer price inflation, the Labor Department released a report on Thursday showing import prices in the U.S. crept up in line with estimates in the month of December. The Labor Department said import prices inched up by 0.1 percent in December, matching the upticks seen in November and October as well as expectations.

RTTNews | il y a 7h 40min

U.S. Retail Sales Rise 0.4% In December, Less Than Expected

The Commerce Department released a report on Thursday showing retail sales in the U.S. increased by less than expected in the month of December. The report said retail sales rose by 0.4 percent in December after advancing by an upwardly revised 0.8 percent in November. Economists had expected retail sales to climb by 0.6 percent.

RTTNews | il y a 7h 47min

U.S. Weekly Jobless Claims Rebound From Nearly Eleven-Month Low

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded by more than expected in the week ended January 11th. The Labor Department said initial jobless claims climbed to 217,000, an increase of 14,000 from the previous week's revised level of 203,000. Economists had expected jobless claims to rise to 210,000.

RTTNews | il y a 7h 52min

Philly Fed Index Skyrockets Into Positive Territory In January

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a substantial turnaround by regional manufacturing activity in the month of January.

RTTNews | il y a 9h 1min

U.S. Import Prices Inch Up In Line With Estimates In December

RTTNews | il y a 9h 4min

EURUSD	1.03025	GBPUSD	1.22453	AUDUSD	0.62226
USDJPY	155.276	USDCAD	1.4375	USDCHF	0.91096