Indian Shares Rally On Oil Price Slide

RTTNews | 938 days ago
Indian Shares Rally On Oil Price Slide

(RTTNews) - Indian shares posted strong gains on Thursday, as oil extended losses on demand concerns, after having plunged to hit seven-month lows in the U.S. trading session overnight.

Indian bond yields dropped as oil's fall below $90 a barrel helped ease concerns surrounding inflation and additional interest-rate hikes.

Underlying sentiment was also underpinned after Wall Street clawed back from a three-week long sell-off overnight.

The benchmark S&P/BSE Sensex jumped 659.31 points, or 1.12 percent, to close at 59,688.22 - snapping a two-day losing streak.

The broader NSE Nifty index settled 174.35 points, or 0.99 percent, higher at 17,798.75.

Private sector banks topped the gainers list while metal stocks succumbed to selling pressure as the Chinese megacity of Chengdu extended a lockdown for a majority of its more than 21 million residents.

The rupee traded firm in the afternoon ahead of the ECB rate decision and a speech by U.S. Federal Reserve Chair Jerome Powell later in the day.

In remarks prepared for a speech in New York, Fed Vice Chair Lael Brainard vowed Wednesday to press the fight against inflation while being careful to avoid overtightening.

read more
Amazon Places Bid For TikTok Ahead Of US Sale Deadline

Amazon Places Bid For TikTok Ahead Of US Sale Deadline

As the April 5 deadline is looming for TikTok, owned by China-based ByteDance Ltd, to find a buyer or to face shutdown in the United States, its biggest market, Amazon has entered the picture, submitting a takeover bid to the White House for the business, reports said. With this, the tech major joins the list of potential bidders including private equity firm Blackstone and mobile technology...
RTTNews | 4h 10min ago
European Shares Tumble On Tariff Jitters

European Shares Tumble On Tariff Jitters

European stocks fell sharply on Thursday as investors fretted about the potential repercussions of the new tariffs announced by U.S. President Donald Trump.
RTTNews | 4h 58min ago
Asian Shares Slide On Trade War Concerns

Asian Shares Slide On Trade War Concerns

Asian stocks tumbled on Thursday after U.S. President Donald Trump announced a 10 percent universal tariff on most imported goods along with additional high tariffs on countries the U.S. considers "worst offenders" based on trade deficits and non-tariff barriers.
RTTNews | 5h 21min ago
DAX Down Sharply Despite Coming Off Early Lows

DAX Down Sharply Despite Coming Off Early Lows

German stocks are down sharply Thursday morning due to heavy selling almost across the board as investors react to the U.S. government's announcement of "reciprocal tariffs." The much steeper-than-expected tariffs on US trade partners, has heightened concerns over a global trade war that could destabilize major economies.
RTTNews | 5h 21min ago
U.S. Dollar Drops Amid Fed Rate Cut Bets

U.S. Dollar Drops Amid Fed Rate Cut Bets

The U.S. dollar weakened against other major currencies in the European session on Thursday, as traders increase their bets that the Fed will lower rates in June, as Trump imposes fresh tariffs, traders increase their wagers that the Fed will lower rates in June.
RTTNews | 5h 25min ago
Commodity Currency's Slide As Trump Unveils Tariff Plans

Commodity Currency's Slide As Trump Unveils Tariff Plans

The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Thursday, after U.S. President Donald Trump announced steeper-than-expected reciprocal tariffs on U.S. trade partners, heightening concerns over a global trade war that could destabilize major economies. White House press secretary Karoline Leavitt indicated the new levies will be "effective immediately."
RTTNews | 5h 35min ago