Sensex, Nifty Gain On Earnings Optimism; IT Stocks Decline

RTTNews | 693 days ago
Sensex, Nifty Gain On Earnings Optimism; IT Stocks Decline

(RTTNews) - Indian shares rose notably on Tuesday, with firm global cues and hopes for strong quarterly earnings helping underpin investor sentiment.

The benchmark S&P/BSE Sensex climbed 311.21 points, or 0.52 percent, to 60,157.72, extending gains for a seventh day running.

The broader NSE Nifty index settled 98.25 points, or 0.56 percent, higher at 17,722.30, with banks, auto and metal stocks leading the surge. Kotak Mahindra Bank jumped 4.6 percent after reports that its weightage in the MSCI index may rise.

Metal stocks such as Tata Steel and JSW Steel rallied 3-4 percent as copper prices reached one-week high on dollar weakness and China stimulus hopes.

China's consumer inflation hit an 18-monht low in March and producer price deflation deepened further, creating room for the country's central bank to potentially ease its monetary policy.

Auto stocks such as Bajaj Auto and Eicher Motor rose around 3 percent each on analyst recommendations.

IT stocks underperformed ahead of earnings from tech giants TCS and Infosys due this week.

Tech Mahindra, Wipro, HCL Technologies, Infosys and TCS fell 1-2 percent.

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Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Wednesday, despite the negative cues from Wall Street overnight, as traders reacted to actions taken by China to counter the effects of deflation and a slew of upbeat GDP and PMI data from the region. Markets are also cautious following the imposition of tariffs by U.S. on Canada, Mexico and China, and the retaliatory measures by China and Canada.
RTTNews | 6h 7min ago
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Wednesday, adding to the losses in the previous session, with the benchmark S&P/ASX 200 falling to near the 8,100 level, following the broadly negative cues from Wall Street overnight, with weakness across most sectors led by financial and energy stocks.
RTTNews | 6h 38min ago
Japanese Market Modestly Lower

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Wednesday, adding to the losses in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 37,300 level, with weakness is exporters and financial stocks partially offset by gains in index heavyweights and technology stocks.
RTTNews | 7h 54min ago
Australian Market Significantly Lower

Australian Market Significantly Lower

Australian shares are trading significantly lower on Wednesday, extending the losses in the previous session, with the benchmark S&P/ASX 200 falling to near the 8,100 level, following the broadly negative cues from Wall Street overnight, with a mixed a trend across most sectors. Financial stocks were particularly weak.
RTTNews | 8h 25min ago
Dollar Stays Weak Against Major Counterparts

Dollar Stays Weak Against Major Counterparts

The dollar drifted down on Tuesday, extending losses from previous session, amid concerns about the economic impact of trade war following the imposition of tariffs by U.S. on Canada, Mexico and China, and the retaliatory measures by China and Canada.
RTTNews | 10h 8min ago
TSX Ends 1.7% Down As Stocks Tumble On Tariff Concerns

TSX Ends 1.7% Down As Stocks Tumble On Tariff Concerns

The Canadian market ended sharply lower on Tuesday, hurt by heavy selling in several sectors amid concerns about growth as new tariffs by U.S. against Canada, China and Mexico took effect, and Canada and China announced retaliatory measures.
RTTNews | 10h 30min ago
Canadian Market Set To End On Weak Note

Canadian Market Set To End On Weak Note

Despite recovering a substantial portion of lost ground, the Canadian market remains deep down in negative territory on Tuesday, and with less than an hour to go for the closing bell, looks set to end the session on a weak note.
RTTNews | 13h 19min ago