Sensex, Nifty Rally After RBI's Dividend Bonanza To Govt

RTTNews | 177 일 전

(RTTNews) - Indian shares posted strong gains on Thursday despite mixed cues from global markets.

Investor sentiment received a boost after the Reserve Bank of India approved a massive, all-time high surplus transfer of Rs. 2,10,874 crores for FY24, boosting government revenues and aiding fiscal deficit target.

It is believed that the surplus transfer could help the government either borrow less in FY25 or step up capital expenditure.

Investors also cheered the results of a survey, which showed that business activity in India witnessed a robust growth in May, helped by the dominant services industry.

HSBC's flash India Composite purchasing managers' Index, compiled by S&P Global, improved to 61.7 this month from April's final reading of 61.5.

The benchmark S&P BSE Sensex jumped 1,196.98 points, or 1.61 percent, to 75,418.04 while the broader NSE Nifty index closed at 22,967.65, up 369.85 points, or 1.64 percent, from its previous close.

Adani Group stocks topped the gainers list, with Adani Enterprises and Adani Ports climbing 8.2 percent and 4.8 percent, respectively after Group's Chief Financial Officer (CFO) Jugeshinder Robbie Singh mocked a Financial Times (FT) investigative report that found the ports-to-power conglomerate's involvement in an alleged coal scam.

Axis Bank, Eicher Motors and Mahindra & Mahindra rallied 3-4 percent while Hindalco, Power Grid Corp and Sun Pharma dropped 1-3 percent.

Global cues were mixed after the minutes of the April 30-May 1 Fed meeting revealed discussions of a further tightening of interest rates if inflation remained sticky.

The downside, if any, in global markets was capped after AI darling Nvidia delivered another blowout quarterly earnings report and unveiled a 10-for-1 stock split.

Gold pulled back further from record highs as the dollar held near one-week high on concerns that the Federal Reserve may hold interest rates higher for longer.

Oil prices saw modest gains in European trade after falling for three straight session on demand concerns.

Canadian Market Settles Lower; TSX Sheds 0.6%

The Canadian market ended notably lower on Friday, weighed down by losses in energy, industrials and materials sectors, and on uncertainty about Federal Reserve's interest rate trajectory.

RTTNews | 1 일 전

Dollar Turns In Mixed Performance Against Major Counterparts

The U.S. dollar turned in a sluggish performance on Friday with investors assessing the Federal Reserve's likely moves with regard to interest rate reductions in the wake of most recent economic data, and Fed Chair Jerome Powell's somewhat hawkish comments.

RTTNews | 1 일 전

Canadian Shares Notably Lower

The Canadian market is down in negative territory Friday afternoon with stocks from several sectors reeling under sustained selling pressure amid uncertainty about U.S. interest rate cuts after dovish comments from Fed Chair Jerome Powell.

RTTNews | 1 일 전

Swiss Market Ends Lower On Growth Concerns

Swiss stocks tumbled on Friday, weighed down data showing a slowdown in growth, and uncertainty about Fed interest rate cuts following hawkish comments by the central bank chair Jerome Powell.

RTTNews | 1 일 전

U.S. Dollar Strengthens After Strong Retail Sales Data

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, following the release of the latest batch of economic data, including a Commerce Department report showing retail sales increased by slightly more than expected in October.

RTTNews | 1 일 전

European Stocks Close Lower On Rate Cut Uncertainty, Growth Concerns

European stocks closed lower on Friday, weighed down by concerns about the outlook for U.S. interest rate cuts following Federal Reserve Chair Jerome Powell's hawkish comments. Disappointing economic data from China weighed as well.

RTTNews | 1 일 전

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.

RTTNews | 1 일 전

U.S. Industrial Production Falls 0.3% In October As Boeing Strike, Hurricanes Continue To Weigh

With the effects of recent hurricanes and the since-resolved strike at Boeing (BA) continuing to weigh on growth, the Federal Reserve released a report on Friday showing U.S. industrial production decreased in line with economist estimates in the month of October.

RTTNews | 1 일 전

EURUSD	1.05265	GBPUSD	1.26077	AUDUSD	0.6456
USDJPY	154.322	USDCAD	1.40888	USDCHF	0.8882