The Indian market ended in red on Thursday as a surge in rate-sensitive IT stocks due to the near-certainty of a U.S. rate cut next week was offset by a decline in almost all other sectors on caution ahead of domestic inflation data. The benchmark S&P BSE Sensex slipped 236.18 points or 0.3% to settle…
Indian benchmark indices closed flat on Wednesday, with gains in consumer and IT stocks, as market participants awaited key inflation data from U.S and India for cues into the rate trajectories of the two countries. The benchmark S&P BSE Sensex rose 16.09 points or 0.02% to settle at 81,526.14, while the broader Nifty 50 index…
Micron Technology surged close to 19% on Thursday, leading a rally in chip stocks after its strong revenue forecast signaled robust demand for the hardware used to power generative AI technology. The company, whose high-bandwidth memory chips (HBM) are used in Nvidia’s popular artificial intelligence processors, could potentially add more than $19 billion to its…
The S&P 500 rose to an all-time intraday high on Tuesday and was on track for a record close, lifted by investor confidence that the Federal Reserve is set to begin cutting interest rates, erasing the last of a deep selloff that lasted through late July and early August. The S&P 500 was last up…
Domestic headline equity indices ended lower on Wednesday as investors booked profits across sectors, ahead of key U.S. inflation data that could influence the size of a likely reduction in Federal Reserve interest rates next week. The Nifty 50 index fell 0.49% to 24,918, while the S&P BSE Sensex lost 0.49% to 81,523. Here’s how…
A selloff that rocked equity markets around the world is clouding the outlook for investors looking to buy stocks on the cheap, as worries over the U.S. economy and disappointing tech earnings threaten more losses ahead. A two-day rout late last week left the S&P 500 nearly 6% from its July peak while the tech-heavy…
The combined market valuation of eight of the top-10 most valued firms declined by Rs 2,08,207.93 crore last week, with bellwether Reliance Industries, TCS and Infosys taking the biggest hit. While these three firms along with ITC, Life Insurance Corporation (LIC), Hindustan Unilever Ltd, Bharti Airtel and ICICI Bank were the laggards, HDFC Bank and…
Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets. This came following a net outflow of over Rs 8,700 crore in the entire April on concerns over a tweak in India’s…