Sensex Slumps 1,062 Points; Nifty Ends Below 22,000

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Sensex Slumps 1,062 Points; Nifty Ends Below 22,000

(RTTNews) - Indian shares tumbled on Thursday as Fed rate cut hopes waned and truce mediators continued talks to reach Hamas-Israel agreement over key issues.

A slew of weak March quarter results and uncertainty surrounding the outcome of ongoing 2024 Lok Sabha elections also spooked investors.

Federal Reserve Bank of Boston President Susan Collins said on Wednesday that she is not surprised by unwelcome inflation data and that the U.S. economy still needs to slow more in order to get inflation back to the central bank's 2 percent target.

In the Middle East, investors awaited more clarity on a potential ceasefire between Israel and Hamas as Israeli forces pushed ahead with attacks on Rafah.

The benchmark S&P BSE Sensex ended the session down 1,062.22 points, or 1.45 percent, at 72,404.17 - extending losses for a third straight session.

The broader NSE Nifty index slumped 345 points, or 1.55 percent, to 21,957.50.

ONGC, Coal India, Asian Paints, BPCL and Larsen & Toubro plunged 4-6 percent in the Nifty pack while automakers Bajaj Auto, Mahindra & Mahindra, Tata Motors and Hero MotoCorp surged 1-3 percent.

SBI gained 1.1 percent after reporting a 24 percent rise in Q4 net profit.

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Dollar Slips Against Major Counterparts

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Canadian Market Modestly Higher, Looks Headed For Positive Close

Canadian Market Modestly Higher, Looks Headed For Positive Close

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Swiss Market Ends Marginally Up

Swiss Market Ends Marginally Up

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European Stocks Close On Mixed Note

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Spirit Airlines Files For Chapter 11 Bankruptcy Protection; Stock Drops

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Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Canadian shares may open higher on Monday as energy and materials sectors are likely to attract buyers thanks to firm crude oil and metal prices. With Canadian inflation data due this week, and the Federal Reserve's upcoming policy moves remaining a bit uncertain, the mood is likely to remain somewhat cautious.
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CPI Uptick, Fed Hints Boost Dollar Again

CPI Uptick, Fed Hints Boost Dollar Again

The U.S. dollar rallied against major currencies during the week ended November 15 amidst an expected uptick in consumer price inflation in the U.S. as well as hints from Jerome Powell that the Fed was in no hurry to cut rates.
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