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Sensex, Nifty Struggle For Direction; IT Stocks Surge

RTTNews | 137 days ago

Sensex, Nifty Struggle For Direction; IT Stocks Surge

(RTTNews) - Indian shares struggled for direction on Friday as global bond yields surged on hawkish Fed comments.

In a discussion at the 2024 Michigan Bankers Association Convention, Minneapolis Fed President Neel Kashkari noted that it will probably take a year or two to get inflation back to the central bank's 2 percent target.

The benchmark S&P BSE Sensex was marginally lower at 77,471, giving up early gains. The broader NSE Nifty index was up 19 points at 23,586.

IT stocks traded higher, with Wipro, Tech Mahindra, Infosys and LTIMindTree rallying 2-3 percent after Accenture forecast 2024 revenue growth above estimates.

Bharti Airtel climbed 2.1 percent after acquiring additional stake in Indus Towers. Tata Motors fell about 1 percent after launching Fleet Verse - a comprehensive and innovative digital marketplace for Tata Motors Commercial Vehicles.

Kotak Mahindra Bank, Adani Enterprises, Hindustan Unilever and HDFC Bank all were down around 1 percent.

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Spain Unemployment Rises In October

Spain Unemployment Rises In October

Joblessness in Spain increased in October but logged the smallest gain for the month since 2006 except for the pandemic years of 2021 and 2022, data from the labor ministry showed on Tuesday. The number of unemployed rose by 26,769 persons, which was a below average increase for the month of October. Economists were looking for an increase of 26,500 persons.

RTTNews | 5h 30min ago

Yen Falls Amid BoJ Rate Hike Uncertainty

Yen Falls Amid BoJ Rate Hike Uncertainty

The Japanese yen weakened against other major currencies during the European session on Tuesday, as traders remain cautious amid a rare political crisis following a Japanese snap election that raises doubts about the Bank of Japan's capacity to raise interest rates further and the U.S. election.

RTTNews | 6h 0min ago

Boeing Strike Ends As Machinists Accept New Contract

Boeing Strike Ends As Machinists Accept New Contract

Nearly two months long strike at Boeing Co. has ended after a majority of around 33,000 frontline workers voted to approve a new contract that will deliver 43.65 percent compounded wage increase. Following the deal, Boeing shares were gaining around 1.91 percent in the pre-market activity on the NYSE to trade.

RTTNews | 6h 32min ago

Sensex, Nifty Follow Global Peers Higher; Metal Stocks Shine

Sensex, Nifty Follow Global Peers Higher; Metal Stocks Shine

Indian shares rose notably on Tuesday despite uncertainty surrounding the U.S. presidential election and continued foreign fund outflows.

RTTNews | 7h 2min ago

Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other against major currencies in the European session on Tuesday.

RTTNews | 7h 9min ago

European Shares Modestly Higher In Cautious Trade

European Shares Modestly Higher In Cautious Trade

European stocks eked out modest gains in cautious trade on Tuesday as investors reacted to mixed earnings updates and awaited interest-rate decisions from the Bank of England and the Federal Reserve later this week.

RTTNews | 7h 41min ago

FTSE 100 Rises In Cautious Trade

FTSE 100 Rises In Cautious Trade

U.K. stocks eked out modest gains in cautious trade on Tuesday as investors eagerly await the U.S. presidential election result as well as interest-rate decisions from the Bank of England and the Federal Reserve later this week.

RTTNews | 8h 2min ago

CAC 40 Marginally Higher In Cautious Trade

CAC 40 Marginally Higher In Cautious Trade

French stocks were little changed with a positive bias on Tuesday due to uncertainty surrounding the U.S. presidential election, with polls predicting a tight race.

RTTNews | 8h 14min ago

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