Sensex, Nifty Modestly Higher In Cautious Trade
(RTTNews) - Indian shares traded higher on Wednesday, even as caution prevailed ahead of the release of key U.S. jobs report and Fed Chair Jerome Powell's remarks this week.
Global cues remain mixed, with U.S. and European markets ending higher overnight while Asian markers drifted lower amid the political turmoil in South Korea, a deepening political crisis in France and China's economic woes.
The benchmark &P/BSE Sensex was up 320 points, or 0.4 percent, at 81,166 in early trade while the broader NSE Nifty index was up 90 points, or 0.4 percent, at 24,547.
Financials, IT and PSU stocks traded higher, with BPCL, Wipro, NTPC, SBI Life and HDFC Life rising 1-2 percent.
On the losing side, Bharti Airtel and Cipla were down around 1 percent each.
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Fed's Beige Book Says U.S. Economic Activity Rose Slightly
Economic activity rose slightly in most Federal Reserve districts, according to the central bank's Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts. The Beige Book, released Wednesday afternoon, said three regions exhibited modest or moderate growth that offset flat or slightly declining activity in two others.
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5h 5min ago
Gold Futures Close Higher As Dollar Remains Weak
Gold futures closed higher on Wednesday, gaining for a second straight session, as the dollar remained weak. Geopolitical tensions and political uncertainty in France contributed as well for the increased demand for the safe-haven asset.
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5h 6min ago
Swiss Market Close Moderately Lower
The Switzerland market closed weak on Wednesday after languishing in the red right through the day's trading session, as investors looked for directional clues and made cautious moves.
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6h 2min ago
European Stocks Close Broadly Higher
European stocks closed broadly lower on Wednesday despite political uncertainty in France, and lingering concerns about geopolitical tensions. Investors also awaited some crucial economic data from the U.S.
A report from the Organization for Economic Co-operation and Development (OECD) saying that the global economy will likely remain resilient helped underpin sentiment.
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6h 17min ago
ECB's Lagarde Says Eurozone Outlook Uncertain Amid Downside Risks
Euro area medium term economic outlook is uncertain, and growth is set to remain weak in the short term while inflation is expected temporarily rise, European Central Bank President Christine Lagarde said Wednesday.
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6h 24min ago
U.S. Factory Orders Rise In Line With Estimates In October
The Commerce Department released a report on Wednesday showing a modest increase by new orders for U.S. manufactured goods in the month of October. The report said factory orders rose by 0.2 percent in October after dipping by a revised 0.2 percent in September. Economists had expected factory orders to rise by 0.2 percent.
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8h 40min ago
U.S. Service Sector Growth Slows More Than Expected In November
A report released by the Institute for Supply Management on Wednesday showed U.S. service sector growth slowed by more than anticipated in the month of November. The ISM said its services PMI fell to 52.1 in November from 56.0 in October. While a reading above 50 still indicates growth, economists had expected the index to show a much more modest decrease to 55.5.
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8h 59min ago
U.S. Private Sector Job Growth Falls Modestly Short Of Estimates In November
A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by slightly less than expected in the month of November. ADP said private sector employment climbed by 146,000 jobs in November after jumping by a downwardly revised 184,000 jobs in October.
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9h 31min ago
