WION Wallet: In conversation with Mustafa Nadeem on Global stock markets. To know more watch the video

WION Wallet: In conversation with Mustafa Nadeem on Global stock markets

&nbsp;Hopes of a trade deal between Washington and Beijing turned world stock markets and other risk assets higher on Friday, though an escalating wave of<a href="https://www.wionews.com/.../urban-unrest-propels-global-wave-of-protests- 262305"> global protests from Hong Kong</a><a href="https://www.wionews.com/.../urban-unrest-propels-global-wave-of-protests- 262305"> to Chile</a> left some deep scars.

Europe's main bourses followed Asia and <a href="https://www.wionews.com/.../wall-street-subdued-as-economic-trade-doubts- persist-262154">Wall Street</a> higher after White House economic advisor Larry Kudlow said on Thursday that the US&nbsp;and China were getting close to an agreement and were talking every day.

"We're getting close," he told an event at the Council on Foreign Relations in Washington. "The mood music is pretty good, and that has not always been so in these things."

It kept alive hopes that MSCI's 49-country world index and Europe's STOXX 600 could both avoid their first weekly falls since the start of October, but others had little chance.

Emerging market stocks&nbsp;were down 1.7 per cent&nbsp;for the week, while the violent escalation of pro-democracy protests in Hong Kong left the Hang Seng down 4.7 per cent&nbsp;&lt;.HSI&gt;, its worst weekly performance in four months.

Chinese blue-chip shares ended the day down 0.75 per cent&nbsp;and 2.4 per cent, their biggest fall since August, while fierce anti-government protests in Chile gave its currency its worst week since 2011 with a 7 per cent&nbsp;plunge.

Shane Oliver, chief economist at AMP Capital in Sydney, likened regional markets' bullish reaction to positive trade news to being in a relationship with an alcoholic, driven by entrenched hopes for recovery.

"Markets want to believe that there will be some sort of resolution to this issue, some sort of lasting truce at least, even though the experience of the last 18 months doesn't give a lot of cause for comfort," he said.

However, Oliver said weaker Chinese and US&nbsp;economies as well as the <a href="https://www.wionews.com/.../fierce-proceedings-expected-as-impeachment- testimony-against-donald-trump-set-to-telecast-today-261802">US&nbsp;presidential election </a>next year put pressure on both sides to come to an agreement.

In currencies, the safe-haven yen&nbsp;weakened, with the dollar rising 0.17 per cent&nbsp;to buy 108.57 yen. The euro&nbsp;was barely changed at $1.1023 and the dollar index, which tracks the greenback against a basket of six major rivals was off just 0.02 per cent&nbsp;at 98.143.

Higher US&nbsp;Treasury yields also illustrated the risk-on tone in the Asian session, with the 10-year yield&nbsp;rising to 1.848 per cent&nbsp;from a US close of 1.815 per cent&nbsp;on Thursday.

The policy-sensitive two-year yield rose to 1.6101 per cent&nbsp;from 1.593 per cent on Thursday after US&nbsp;Federal Reserve Chair Jerome Powell said the risk of the U.S. economy facing a dramatic bust is remote.

A Reuters poll of more than 100 economists showed that while concerns have eased over a US&nbsp;recession, few see an economic rebound, and most believe a trade truce is unlikely in the coming year.

&nbsp;

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Government borrowing costs in Germany and France also inched up on Friday, but were set for sizeable weekly declines, in contrast to southern European countries that have come under heavy selling pressure again this week.

Germany's 10-year Bund yield was at -0.33 per cent off more than one-week lows hit on Thursday. But it is down 8 bps on the week, set for the biggest weekly fall since mid-August. Dutch 10-year bond yields are down 7 bps this week, and French yields are 5 bps lower.

Data on Thursday had showed Germany's economy grew just 0.1 per cent&nbsp;in the third quarter, with consumer spending helping the country to avoid a mild contraction and a technical recession of two quarters of economic shrinkage.

"In general, there has been risk aversion in recent days and a shift to core bond markets from the periphery," said Daniel Lenz, a rates strategist at DZ Bank.

Global sentiment has been buffeted in recent weeks by conflicting assessments of progress in talks between the United States and China aimed at ending their 16-month-long trade war.

<a href="https://www.wionews.com/.../asian-markets-boosted-by-fresh-china-us-trade- optimism-262213">China's commerce ministry</a> said the two countries are holding "in-depth" discussions on a first phase trade agreement, and that cancelling tariffs is an important condition to reaching a deal.

China has also ended a nearly five-year ban on imports of US&nbsp;poultry meat, which the US&nbsp;Trade Representative said would lead to more than $1 billion in annual shipments to China.

Those developments followed comments from officials from both countries last week that they had a deal to roll back tariffs, only to have US&nbsp;President Donald Trump deny that any such deal had been agreed to.

The new record for the S&amp;P, which gained just 0.08 per cent&nbsp;to 3,096.63, came despite a grim outlook from network gear maker Cisco Systems &lt;CSCO.O&gt; that underlined the impact of trade uncertainty.

In commodity markets, US&nbsp;crude prices rebounded after sliding Thursday on rising US&nbsp;crude inventories. US&nbsp;West Texas Intermediate crude was 0.44 per cent&nbsp;higher at $57.02 a barrel.

Global benchmark Brent crude added 0.37 per cent&nbsp;to $62.51 per barrel.

Gold retreated from gains that had been prompted by trade uncertainty. Spot gold&nbsp;was last trading at $1,463.90 per ounce, down 0.48 per cent.

($1 = 6.9941 Chinese yuan)

Hopes of a trade deal between Washington and Beijing turned world stock markets and other risk assets higher on Friday, though an escalating wave of global protests from Hong Kong to Chile left some deep scars.

Hopes of a trade deal between Washington and Beijing turned world stock markets and other risk assets higher on Friday, though an escalating wave of global protests from Hong Kong to Chile left some deep scars. Europe's main bourses followed Asia and Wall Street higher after White House economic advisor Larry Kudlow said on Thursday that the US and China were getting close to an agreement and were talking every day. "We're getting close," he told an event at the Council on Foreign Relations in Washington. "The mood music is pretty good, and that has not always been so in these things." It kept alive hopes that MSCI's 49-country world index and Europe's STOXX 600 could both avoid their first weekly falls since the start of October, but others had little chance. Emerging market stocks were down 1.7 per cent for the week, while the violent escalation of pro-democracy protests in Hong Kong left the Hang Seng down 4.7 per cent <.HSI>, its worst weekly performance in four months. Chinese blue-chip shares ended the day down 0.75 per cent and 2.4 per cent, their biggest fall since August, while fierce anti-government protests in Chile gave its currency its worst week since 2011 with a 7 per cent plunge. Shane Oliver, chief economist at AMP Capital in Sydney, likened regional markets' bullish reaction to positive trade news to being in a relationship with an alcoholic, driven by entrenched hopes for recovery. "Markets want to believe that there will be some sort of resolution to this issue, some sort of lasting truce at least, even though the experience of the last 18 months doesn't give a lot of cause for comfort," he said. However, Oliver said weaker Chinese and US economies as well as the US presidential election next year put pressure on both sides to come to an agreement. In currencies, the safe-haven yen weakened, with the dollar rising 0.17 per cent to buy 108.57 yen. The euro was barely changed at $1.1023 and the dollar index, which tracks the greenback against a basket of six major rivals was off just 0.02 per cent at 98.143. Higher US Treasury yields also illustrated the risk-on tone in the Asian session, with the 10-year yield rising to 1.848 per cent from a US close of 1.815 per cent on Thursday. The policy-sensitive two-year yield rose to 1.6101 per cent from 1.593 per cent on Thursday after US Federal Reserve Chair Jerome Powell said the risk of the U.S. economy facing a dramatic bust is remote. A Reuters poll of more than 100 economists showed that while concerns have eased over a US recession, few see an economic rebound, and most believe a trade truce is unlikely in the coming year. Government borrowing costs in Germany and France also inched up on Friday, but were set for sizeable weekly declines, in contrast to southern European countries that have come under heavy selling pressure again this week. Germany's 10-year Bund yield was at -0.33 per cent off more than one-week lows hit on Thursday. But it is down 8 bps on the week, set for the biggest weekly fall since mid-August. Dutch 10-year bond yields are down 7 bps this week, and French yields are 5 bps lower. Data on Thursday had showed Germany's economy grew just 0.1 per cent in the third quarter, with consumer spending helping the country to avoid a mild contraction and a technical recession of two quarters of economic shrinkage. "In general, there has been risk aversion in recent days and a shift to core bond markets from the periphery," said Daniel Lenz, a rates strategist at DZ Bank. Global sentiment has been buffeted in recent weeks by conflicting assessments of progress in talks between the United States and China aimed at ending their 16-month-long trade war. China's commerce ministry said the two countries are holding "in-depth" discussions on a first phase trade agreement, and that cancelling tariffs is an important condition to reaching a deal. China has also ended a nearly five-year ban on imports of US poultry meat, which the US Trade Representative said would lead to more than $1 billion in annual shipments to China. Those developments followed comments from officials from both countries last week that they had a deal to roll back tariffs, only to have US President Donald Trump deny that any such deal had been agreed to. The new record for the S&P, which gained just 0.08 per cent to 3,096.63, came despite a grim outlook from network gear maker Cisco Systems <CSCO.O> that underlined the impact of trade uncertainty. In commodity markets, US crude prices rebounded after sliding Thursday on rising US crude inventories. US West Texas Intermediate crude was 0.44 per cent higher at $57.02 a barrel. Global benchmark Brent crude added 0.37 per cent to $62.51 per barrel. Gold retreated from gains that had been prompted by trade uncertainty. Spot gold was last trading at $1,463.90 per ounce, down 0.48 per cent. ($1 = 6.9941 Chinese yuan)

Global Markets: US-China trade hopes revive stocks, protests leave scars

The domestic stock market indices zoomed to a fresh record high on Thursday but later receded in the afternoon trade.

While Sensex closed 77 points higher at 40,129, Nifty ended 33.35 points higher to close at 11,877.45.&nbsp;

Sectorally, financial services, metal and private banking stocks closed in the bearish zone, while media and PSU banking scrips closed at a hike of over 3%, followed by over 1% in realty and IT stocks.

Among stocks, private sector lender Yes Bank was the winner of the day after the announcement that it has received a binding offer of 1.2 billion dollars from a global investor.&nbsp;

The stock closed with gains of 23.77 per cent at Rs 70.30 per share. Public sector State Bank of India too showed handsome gains of 7.8 per cent to close at Rs 312.50 per cent. The other prominent gainers were Grasim, Infosys, Bharti Infratel, Tata Motors, GAIL and Wipro.

However, metal stocks showed de-growth with JSW Steel declining by 2.8 per cent and Tata Steel by 2 per cent. Axis Bank, ICICI Bank and HDFC Bank too were in the red along with Tech Mahindra, Vedanta and Reliance Industries.

Meanwhile, Asian shares and US stock futures edged higher after the Fed cut interest rates to keep the economic expansion on track. However, the Fed hinted that there will be no further cuts unless deemed necessary.

Japan's Nikkei moved up by 0.37 per cent, Hong Kong's Hang Seng index by 0.9 per cent and South Korea`s Kospi by 0.15 per cent. But the Shanghai Composite index slipped by 0.35 per cent as data showed that factory activity in China shrank for the sixth straight month in October.

(With inputs from ANI)

The domestic stock market indices zoomed to a fresh record high on Thursday but later receded in the afternoon trade. While Sensex closed 77 points higher at 40,129, Nifty ended 33.

The domestic stock market indices zoomed to a fresh record high on Thursday but later receded in the afternoon trade. While Sensex closed 77 points higher at 40,129, Nifty ended 33.35 points higher to close at 11,877.45. Sectorally, financial services, metal and private banking stocks closed in the bearish zone, while media and PSU banking scrips closed at a hike of over 3%, followed by over 1% in realty and IT stocks. Among stocks, private sector lender Yes Bank was the winner of the day after the announcement that it has received a binding offer of 1.2 billion dollars from a global investor. The stock closed with gains of 23.77 per cent at Rs 70.30 per share. Public sector State Bank of India too showed handsome gains of 7.8 per cent to close at Rs 312.50 per cent. The other prominent gainers were Grasim, Infosys, Bharti Infratel, Tata Motors, GAIL and Wipro. However, metal stocks showed de-growth with JSW Steel declining by 2.8 per cent and Tata Steel by 2 per cent. Axis Bank, ICICI Bank and HDFC Bank too were in the red along with Tech Mahindra, Vedanta and Reliance Industries. Meanwhile, Asian shares and US stock futures edged higher after the Fed cut interest rates to keep the economic expansion on track. However, the Fed hinted that there will be no further cuts unless deemed necessary. Japan's Nikkei moved up by 0.37 per cent, Hong Kong's Hang Seng index by 0.9 per cent and South Korea`s Kospi by 0.15 per cent. But the Shanghai Composite index slipped by 0.35 per cent as data showed that factory activity in China shrank for the sixth straight month in October. (With inputs from ANI)

Sensex ends at an all-time high, Nifty closes at 11,877.45

India’s benchmark equity indices ended with sharp gains today shrugging off a weak start in early morning trade.&nbsp;

The Sensex closed 582 points or 1.48 per cent, higher at 39,831.84, NSE Nifty50 settled 160 points, or 1.37 per cent, up at 11,786.85.

Globally, optimism over US-China trade deal and the European Union extending Brexit deadline to January 31 2020, also boosted sentiment.

All sectoral indices at the National Stock Exchange were in the green except for Nifty FMCG.&nbsp;

During the one-hour muhurat trading on Sunday evening, it had made a dramatic gain of 17.8 per cent at Rs 149.55 per share despite recently reporting a standalone net loss of Rs 1,282 crore during the second quarter ended September 30.

India’s benchmark equity indices ended with sharp gains today shrugging off a weak start in early morning trade. The Sensex closed 582 points or 1.48 per cent, higher at 39,831.

India’s benchmark equity indices ended with sharp gains today shrugging off a weak start in early morning trade. The Sensex closed 582 points or 1.48 per cent, higher at 39,831.84, NSE Nifty50 settled 160 points, or 1.37 per cent, up at 11,786.85. Globally, optimism over US-China trade deal and the European Union extending Brexit deadline to January 31 2020, also boosted sentiment. All sectoral indices at the National Stock Exchange were in the green except for Nifty FMCG. During the one-hour muhurat trading on Sunday evening, it had made a dramatic gain of 17.8 per cent at Rs 149.55 per share despite recently reporting a standalone net loss of Rs 1,282 crore during the second quarter ended September 30.

Sensex closes 582 points higher, Nifty settles at 11,787

The domestic stock market indices on Tuesday witnessed strong gains during the afternoon trade following positive global sentiment on hopes of a rate cut by the US Federal Reserve.

The domestic stock market indices on Tuesday witnessed strong gains during the afternoon trade following positive global sentiment on hopes of a rate cut by the US Federal Reserve. At 2 pm, the BSE S&P Sensex was up by 650 points or 1.66 per cent at 39,900.90 while the Nifty 50 edged higher by 176.05 points to 11,804.80. All sectoral indices at the National Stock Exchange were in the green except for Nifty FMCG. Nifty metal was up by 3.7 per cent, auto up by 3.2 per cent, PSU bank by 1.4 per cent and pharma by 1.3 per cent. Among stocks, Tata Motors jumped by 13.41 per cent to Rs 167.50 per share. During the one-hour muhurat trading on Sunday evening, it had made a dramatic gain of 17.8 per cent at Rs 149.55 per share despite recently reporting a standalone net loss of Rs 1,282 crore during the second quarter ended September 30. Metal scrips too showed gains with Tata Steel edging higher by 6.5 per cent, JSW Steel by 5.2 per cent, Vedanta by 4.8 per cent and Hindalco by 2 per cent. But telecom stocks continued their downward slide after the Supreme Court last week rejected the operators` definition of adjusted gross revenue (AGR). The judgement will negatively impact incumbent cash-strapped operators by over Rs 92,000 crore. Vodafone Idea plunged by 7.8 per cent, Bharti Infratel by 6.2 per cent and Bharti Airtel by 3.5 per cent. Meanwhile, Asian shares rose to a three-month peak after Wall Street hit all-time highs a day earlier amid hopes of progress in US-China trade talks. (With inputs from ANI)

Sensex zooms over 650 points in afternoon trade, Nifty hits 11,800-mark

Domestic stock market indices Sensex and Nifty gained during the early trade, taking cues from the poll trend which suggest BJP may return to power in Maharashtra and Haryana.

At 10 am, the benchmark S&amp;P BSE Sensex was trading around 39,133.01 levels. HCL Tech, up 4 per cent, was the top gainer on the 30-share index.

On NSE, the broader Nifty50 was hovering around11,620.15-mark. 
 
Global cues

Asian shares pulled ahead on Thursday even as uncertainties around Brexit timeline kept overall sentiment in check. EU member states on Wednesday delayed a decision on whether to grant Britain a three-month Brexit extension.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, while Japan's Nikkei inched up 0.5 per cent.

Trends on SGX Nifty suggest a positive start to the domestic indices.

On Wall Street overnight, the Dow and the Nasdaq added 0.2 per cent each while the S&amp;P 500 gained 0.3 per cent.

(With inputs from Reuters)

Domestic stock market indices Sensex and Nifty gained during the early trade, taking cues from the poll trend which suggest BJP may return to power in Maharashtra and Haryana.

Domestic stock market indices Sensex and Nifty gained during the early trade, taking cues from the poll trend which suggest BJP may return to power in Maharashtra and Haryana. At 10 am, the benchmark S&P BSE Sensex was trading around 39,133.01 levels. HCL Tech, up 4 per cent, was the top gainer on the 30-share index. On NSE, the broader Nifty50 was hovering around11,620.15-mark. Global cues Asian shares pulled ahead on Thursday even as uncertainties around Brexit timeline kept overall sentiment in check. EU member states on Wednesday delayed a decision on whether to grant Britain a three-month Brexit extension. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, while Japan's Nikkei inched up 0.5 per cent. Trends on SGX Nifty suggest a positive start to the domestic indices. On Wall Street overnight, the Dow and the Nasdaq added 0.2 per cent each while the S&P 500 gained 0.3 per cent. (With inputs from Reuters)

Sensex up 100 points, Nifty below 11,650

Asian markets rallied Friday on signs of progress in the <a href="https://www.wionews.com/world/us-china-trade-talks-to-resume-thursday-white-house-254346">China-US trade talks</a>, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of <a href="https://www.wionews.com/world/irish-pm-says-very-difficult-to-secure-brexit-deal-by-next-week-254692">Britain and Ireland</a> indicated a potential breakthrough in Brexit talks.

After a nervous week on trading floors, negotiators from the world's top two economies kicked off long-awaited negotiations on resolving their long-running tariffs row on a positive footing, easing worries that they might be cut short.

Without elaborating, Trump told reporters: "I will say I think it's going really well. We had a very, very good negotiation with China."

Adding to the positive vibes was news that Trump would meet China's top trade envoy Liu He at the White House.

The developments allowed dealers to breathe a sigh of relief as tensions between the two sides appeared to be growing after the <a href="https://www.wionews.com/world/us-expands-blacklist-to-include-chinas-top-ai-startups-ahead-of-trade-talks-254672">US put new restrictions on Chinese firms </a>over human rights abuses and reports Beijing had narrowed the issues it was willing to discuss.

"The fog of trade war is beginning to lift, giving way to an air of trade optimism sweeping through global capital markets," said Stephen Innes, Asia-Pacific market strategist at AxiTrader.

"Investors are starting to believe there is light at the end of the... tunnel as hope springs eternal."

Hong Kong led gains across Asia, jumping more than one per cent, Tokyo heading into the break one per cent higher and Shanghai adding 0.1 per cent.

Talks are expected to resume on Friday, with hopes they can at least lead to a delay in tariffs due next week being imposed on China.

"The prospect of US-China trade truce that results in the suspension of further planned tariffs increases is rightly welcome news," Rodrigo Catril at National Australia Bank said.

"But as it is often the case, the devil will be in the detail," he warned, adding that if the optimism is to last "a meaningful de-escalation in tensions is required".

And Thanos Vamvakidis, at Bank of America Merrill Lynch, told Bloomberg TV "we are not out of the woods yet".

Markets are also getting some support from rare signs of progress in the Brexit saga after British Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar said they could see a route towards striking a possible divorce deal.

After hours of talks regarding the vexed question of Northern Ireland, the two issued a joint statement that said: "Both continue to believe a deal is in everybody's interest. They agreed that they could see a pathway to a possible deal."

While Varadkar said there were still hurdles to overcome, the news did provide some much-needed hope in the crisis after German Chancellor Angela Merkel was reported to have said Brexit talks were "close to breaking down".

The pound surged two per cent against the dollar on Thursday and also rallied on the euro, and in early Asian trade managed to hold its ground.

"The positive vibe has raised some hope for a chance of a Brexit deal ahead of the EU summit at the end of next week," NAB's Catril added.

Hopes for the <a href="https://www.wionews.com/business-economy/oil-prices-fall-as-hopes-for-us-china-trade-progress-wilt-254886">China-US talks helped oil prices higher,</a> with traders also cheered by OPEC Secretary-General Mohammad Barkindo saying the grouping of the world's giant producers would do what it could to avert another slump.

Both main contracts rose Friday, having put on more than one per cent the day before.

Asian markets rallied Friday on signs of progress in the China-US trade talks, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of Britain and Ireland indicated a potential breakthrough in Brexit talks.

Asian markets rallied Friday on signs of progress in the China-US trade talks, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of Britain and Ireland indicated a potential breakthrough in Brexit talks. After a nervous week on trading floors, negotiators from the world's top two economies kicked off long-awaited negotiations on resolving their long-running tariffs row on a positive footing, easing worries that they might be cut short. Without elaborating, Trump told reporters: "I will say I think it's going really well. We had a very, very good negotiation with China." Adding to the positive vibes was news that Trump would meet China's top trade envoy Liu He at the White House. The developments allowed dealers to breathe a sigh of relief as tensions between the two sides appeared to be growing after the US put new restrictions on Chinese firms over human rights abuses and reports Beijing had narrowed the issues it was willing to discuss. "The fog of trade war is beginning to lift, giving way to an air of trade optimism sweeping through global capital markets," said Stephen Innes, Asia-Pacific market strategist at AxiTrader. "Investors are starting to believe there is light at the end of the... tunnel as hope springs eternal." Hong Kong led gains across Asia, jumping more than one per cent, Tokyo heading into the break one per cent higher and Shanghai adding 0.1 per cent. Talks are expected to resume on Friday, with hopes they can at least lead to a delay in tariffs due next week being imposed on China. "The prospect of US-China trade truce that results in the suspension of further planned tariffs increases is rightly welcome news," Rodrigo Catril at National Australia Bank said. "But as it is often the case, the devil will be in the detail," he warned, adding that if the optimism is to last "a meaningful de-escalation in tensions is required". And Thanos Vamvakidis, at Bank of America Merrill Lynch, told Bloomberg TV "we are not out of the woods yet". Markets are also getting some support from rare signs of progress in the Brexit saga after British Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar said they could see a route towards striking a possible divorce deal. After hours of talks regarding the vexed question of Northern Ireland, the two issued a joint statement that said: "Both continue to believe a deal is in everybody's interest. They agreed that they could see a pathway to a possible deal." While Varadkar said there were still hurdles to overcome, the news did provide some much-needed hope in the crisis after German Chancellor Angela Merkel was reported to have said Brexit talks were "close to breaking down". The pound surged two per cent against the dollar on Thursday and also rallied on the euro, and in early Asian trade managed to hold its ground. "The positive vibe has raised some hope for a chance of a Brexit deal ahead of the EU summit at the end of next week," NAB's Catril added. Hopes for the China-US talks helped oil prices higher, with traders also cheered by OPEC Secretary-General Mohammad Barkindo saying the grouping of the world's giant producers would do what it could to avert another slump. Both main contracts rose Friday, having put on more than one per cent the day before.

Asian markets rally as Trump says trade talks 'going very well'

Indian shares closed slightly higher on Wednesday, with oil marketing companies leading gains, as crude prices retreated from the sharp surge earlier this week.

The broader NSE Nifty closed up 0.21% at 10,840.65, while the benchmark Sensex index rose 0.23% to 36,563.88.

Oil prices extended losses after Saudi Arabia assured that full production would be restored quickly after last weekend's attacks on its facilities.

Bharat Petroleum Corporation Ltd ended 3.6% higher, while Indian Oil Corporation Ltd climbed 2.4%.

India's cabinet on Wednesday banned production and import of electronic cigarettes, sending stocks of cigarette makers ITC Ltd and Godfrey Phillips India Ltd higher by 0.9% and 5.3%, respectively.

Steelmakers also contributed to gains, with JSW Steel Ltd and Tata Steel Ltd advancing 2.4% and 3.9%, respectively.

Indian shares closed slightly higher on Wednesday, with oil marketing companies leading gains, as crude prices retreated from the sharp surge earlier this week. The broader NSE Nifty closed up 0.

Indian shares closed slightly higher on Wednesday, with oil marketing companies leading gains, as crude prices retreated from the sharp surge earlier this week. The broader NSE Nifty closed up 0.21% at 10,840.65, while the benchmark Sensex index rose 0.23% to 36,563.88. Oil prices extended losses after Saudi Arabia assured that full production would be restored quickly after last weekend's attacks on its facilities. Bharat Petroleum Corporation Ltd ended 3.6% higher, while Indian Oil Corporation Ltd climbed 2.4%. India's cabinet on Wednesday banned production and import of electronic cigarettes, sending stocks of cigarette makers ITC Ltd and Godfrey Phillips India Ltd higher by 0.9% and 5.3%, respectively. Steelmakers also contributed to gains, with JSW Steel Ltd and Tata Steel Ltd advancing 2.4% and 3.9%, respectively.

Nifty, Sensex end higher on rally in steelmakers, energy stocks

Equity benchmark indices were in the negative territory during early hours on Monday, dragged by a substantial fall in auto and metal stocks, despite their Asian peers showing gains.

At 10 am, the BSE S&amp;P Sensex was down by 53 points at 36,928 while the Nifty 50 lowered by 13 points to 10,933.

At the National Stock Exchange, all sectoral indices were in the red except for Nifty FMCG and pharma which showed marginal gains. Nifty auto and metal both were down by 1.16 per cent.

Among stocks, auto major were the worst sufferers.

Tata Motors skidded by 2.5 per cent, Eicher Motors by 1.7 per cent, Maruti by 1.3 per cent and Bajaj Auto by 1 per cent.

Reports said a bleak revenue position has prompted the Goods and Services Tax (GST) fitment committee to hold back from approving any cut on the GST on cars from 28 to 18 per cent, as was demanded by the auto industry.

Metal stocks too took a hit.

JSW Steel and Tata Steel declined by 1.7 per cent each while Hindalco was down by 1.4 per cent and Vedanta by 1.3 per cent. Besides, IT major HCL Technologies and private lender IndusInd Bank were in the red.

However, UPL, Sun Pharma, Hindustan Lever, Indiabulls Housing Finance and Wipro were in the positive zone.

Meanwhile, Asian stocks moved up amid a cautious mood as investors hoped for stimulus to support growth in the world's major economies.

The MSCI's broadest index of Asia Pacific shares outside Japan added 0.1 per cent.

The Shanghai Composite Index was up by 0.4 per cent, South Korea's KOSPI rose by 0.7 per cent and Japan's Nikkei was up by 0.4 per cent. 
&nbsp;

Equity benchmark indices were in the negative territory during early hours on Monday, dragged by a substantial fall in auto and metal stocks, despite their Asian peers showing gains.

Equity benchmark indices were in the negative territory during early hours on Monday, dragged by a substantial fall in auto and metal stocks, despite their Asian peers showing gains. At 10 am, the BSE S&P Sensex was down by 53 points at 36,928 while the Nifty 50 lowered by 13 points to 10,933. At the National Stock Exchange, all sectoral indices were in the red except for Nifty FMCG and pharma which showed marginal gains. Nifty auto and metal both were down by 1.16 per cent. Among stocks, auto major were the worst sufferers. Tata Motors skidded by 2.5 per cent, Eicher Motors by 1.7 per cent, Maruti by 1.3 per cent and Bajaj Auto by 1 per cent. Reports said a bleak revenue position has prompted the Goods and Services Tax (GST) fitment committee to hold back from approving any cut on the GST on cars from 28 to 18 per cent, as was demanded by the auto industry. Metal stocks too took a hit. JSW Steel and Tata Steel declined by 1.7 per cent each while Hindalco was down by 1.4 per cent and Vedanta by 1.3 per cent. Besides, IT major HCL Technologies and private lender IndusInd Bank were in the red. However, UPL, Sun Pharma, Hindustan Lever, Indiabulls Housing Finance and Wipro were in the positive zone. Meanwhile, Asian stocks moved up amid a cautious mood as investors hoped for stimulus to support growth in the world's major economies. The MSCI's broadest index of Asia Pacific shares outside Japan added 0.1 per cent. The Shanghai Composite Index was up by 0.4 per cent, South Korea's KOSPI rose by 0.7 per cent and Japan's Nikkei was up by 0.4 per cent.

Equity indices in negative zone, auto and metal stocks falter

Asian stocks gained on Friday, joining a global trend as investors took heart from firm US economic data plans hopes a meeting between US and Chinese negotiators next month signals an easing in trade tensions.

The improvement in investors' appetite for risk reduced demand for safe havens such as government bonds and the yen, however.

In early European trade, the pan-region Euro Stoxx 50 futures and German DAX futures were little changed, while Britain's FTSE futures inched down 0.1 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 per cent, putting it on track for a 2.2 per cent weekly gain - which would make it the best week since mid-June.

The Shanghai Composite Index edged up 0.1 per cent. Hong Kong's Hang Seng was up 0.2 per cent, with some earlier gains trimmed after rating agency Fitch downgraded the city's credit rating following months of unrest.

Australian stocks gained 0.5 per cent, South Korea's KOSPI climbed 0.1 per cent and Japan's Nikkei advanced 0.4 per cent.

Global equity markets welcomed news that the United States and China agreed on Thursday to hold high-level talks early in October, raising hopes for substantial progress in de-escalating their long, bitter trade conflict.

Upbeat US data on Thursday also helped sentiment.

US private payrolls increased in August at their fastest pace in four months, according to ADP National Employment Report. Separately the US services industry rebounded last month to its fastest expansion since February, according to the Institute for Supply Management's non-manufacturing purchasing managers index (PMI).

"The strong US data are the main part of the latest turn in markets as they are key factors impacting equities and US yields, therefore determining how long this 'risk on' phase will last," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

On Thursday, the Dow added 1.4 per cent, the S&amp;P 500 climbed 1.3 per cent and Nasdaq rose 1.75 per cent.

Ishikawa at IG Securities said a US August jobs report ou later in the global day "will get more attention than usual as it could further fuel the risk-on phase, which in turn would boost the dollar."

The non-farm payroll report is expected to show an increase of 158,000 and the unemployment rate holding steady at 3.7 per cent.

The dollar stood at 107.000 yen after climbing to a one-month high of 107.235 overnight. The greenback has gained about 0.7 per cent against the safe-haven yen.

The pound hovered near a six-week peak of $1.2353 scaled the previous day on hopes that Britain could avoid exiting the European Union without a deal.

Sterling had fallen to a three-year low of $1.1959 midweek after British Prime Minister Boris Johnson stoked fears of a no-deal Brexit.

The euro was steady at $1.1039 after rising 0.5 per cent overnight, when it was lifted by sterling's bounce.

The dollar index against a basket of six major currencies was little changed at 98.369 after pulling back from a one-week low of 98.085 the previous day, thanks to a rise in US Treasury yields.

US Treasuries fell in price and their yields rebounded from multi-year lows as investors moved out of safety assets into equities.

The 10-year Treasury yield was at 1.536 per cent, having risen from a three-year trough of 1.428 per cent plumbed midweek as soft economic data and Sino-US trade worries stoked global recession concerns.

"The recent panic in markets was excessive. And if a sustained reversal of fragile sentiment gets under way, US equities will test fresh record highs and a corresponding drop in bond prices will present an good bargain hunting opportunity," said Eiichiro Tani, chief strategist at Daiwa Securities.

Japan's 10-year government bond yield climbed 2.5 basis points to minus 0.250 per cent, putting some distance between a three-year low of minus 0.295% set earlier this week.

The Australian dollar traded close to a one-month peak of $0.6830. It has gained more than 1 per cent this week amid the thaw in US-China trade tensions and tempered prospects for an immediate interest rate cut by the Reserve Bank of Australia.

Brent crude oil futures were little changed at $60.97 per barrel, losing some steam after posting strong gains over the past two sessions.

Brent had climbed to a one-month peak of $62.40 per barrel on Thursday on a decline in US crude inventories and eased trade war worries.

Asian stocks gained on Friday, joining a global trend as investors took heart from firm US economic data plans hopes a meeting between US and Chinese negotiators next month signals an easing in trade tensions.

Asian stocks gained on Friday, joining a global trend as investors took heart from firm US economic data plans hopes a meeting between US and Chinese negotiators next month signals an easing in trade tensions. The improvement in investors' appetite for risk reduced demand for safe havens such as government bonds and the yen, however. In early European trade, the pan-region Euro Stoxx 50 futures and German DAX futures were little changed, while Britain's FTSE futures inched down 0.1 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 per cent, putting it on track for a 2.2 per cent weekly gain - which would make it the best week since mid-June. The Shanghai Composite Index edged up 0.1 per cent. Hong Kong's Hang Seng was up 0.2 per cent, with some earlier gains trimmed after rating agency Fitch downgraded the city's credit rating following months of unrest. Australian stocks gained 0.5 per cent, South Korea's KOSPI climbed 0.1 per cent and Japan's Nikkei advanced 0.4 per cent. Global equity markets welcomed news that the United States and China agreed on Thursday to hold high-level talks early in October, raising hopes for substantial progress in de-escalating their long, bitter trade conflict. Upbeat US data on Thursday also helped sentiment. US private payrolls increased in August at their fastest pace in four months, according to ADP National Employment Report. Separately the US services industry rebounded last month to its fastest expansion since February, according to the Institute for Supply Management's non-manufacturing purchasing managers index (PMI). "The strong US data are the main part of the latest turn in markets as they are key factors impacting equities and US yields, therefore determining how long this 'risk on' phase will last," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. On Thursday, the Dow added 1.4 per cent, the S&P 500 climbed 1.3 per cent and Nasdaq rose 1.75 per cent. Ishikawa at IG Securities said a US August jobs report ou later in the global day "will get more attention than usual as it could further fuel the risk-on phase, which in turn would boost the dollar." The non-farm payroll report is expected to show an increase of 158,000 and the unemployment rate holding steady at 3.7 per cent. The dollar stood at 107.000 yen after climbing to a one-month high of 107.235 overnight. The greenback has gained about 0.7 per cent against the safe-haven yen. The pound hovered near a six-week peak of $1.2353 scaled the previous day on hopes that Britain could avoid exiting the European Union without a deal. Sterling had fallen to a three-year low of $1.1959 midweek after British Prime Minister Boris Johnson stoked fears of a no-deal Brexit. The euro was steady at $1.1039 after rising 0.5 per cent overnight, when it was lifted by sterling's bounce. The dollar index against a basket of six major currencies was little changed at 98.369 after pulling back from a one-week low of 98.085 the previous day, thanks to a rise in US Treasury yields. US Treasuries fell in price and their yields rebounded from multi-year lows as investors moved out of safety assets into equities. The 10-year Treasury yield was at 1.536 per cent, having risen from a three-year trough of 1.428 per cent plumbed midweek as soft economic data and Sino-US trade worries stoked global recession concerns. "The recent panic in markets was excessive. And if a sustained reversal of fragile sentiment gets under way, US equities will test fresh record highs and a corresponding drop in bond prices will present an good bargain hunting opportunity," said Eiichiro Tani, chief strategist at Daiwa Securities. Japan's 10-year government bond yield climbed 2.5 basis points to minus 0.250 per cent, putting some distance between a three-year low of minus 0.295% set earlier this week. The Australian dollar traded close to a one-month peak of $0.6830. It has gained more than 1 per cent this week amid the thaw in US-China trade tensions and tempered prospects for an immediate interest rate cut by the Reserve Bank of Australia. Brent crude oil futures were little changed at $60.97 per barrel, losing some steam after posting strong gains over the past two sessions. Brent had climbed to a one-month peak of $62.40 per barrel on Thursday on a decline in US crude inventories and eased trade war worries.

Asia shares rise on trade talks hope, firm US data; safe havens sold

There may be little relief on the horizon for investors in US energy companies, whose shares moved from darlings to dismal performers during <a href="https://www.wionews.com/world/wall-street-notches-all-time-highs-as-rate-cut-hopes-lift-investor-spirits-235406">Wall Street</a>'s record bull run and now face a shaky global economy, doubts about fossil fuel investments and general market scepticism.

Energy has been the worst-performing of the 11 S&amp;P 500 sectors this year, the worst performer since US President Donald Trump's 2016 election and the worst performer since the US bull stock market began more than a decade ago.

As a result, the S&amp;P 500 energy sector has its lowest weight in the overall S&amp;P 500 since at least 1995, according to Refinitiv Datastream data.&nbsp;

It represents under 5 per cent of the benchmark index, down from over 15 per cent in mid-2008, when oil prices reached historic highs at over $140 a barrel, nearly three times current levels.

But this year, the energy sector has even failed to keep pace with oil prices, despite their traditional tendency to move in the same direction.

The poor returns raised some hope that the sector will soon find a floor that would allow it to rebound, especially those stocks with appealing dividends, but that remains to be seen.&nbsp;

“The view of the sector, in general, has gotten to a point where it's a very difficult space for institutional investors to embrace because it`s been such a chronic underperformer,” said Walter Todd, chief investment officer at Greenwood Capital in South Carolina.

Since the current bull run began in March 2009, the S&amp;P 500, which many investors view as a proxy for the stock market, has soared well over 300 per cent, while the energy sector has climbed 32 per cent.&nbsp;

Oil prices are up relatively little throughout the bull market, which has largely overlapped with a US economic expansion characterized by modest growth and with a boom in shale exploration that helped make the country the world`s top oil producer.

This year, however, US crude prices have climbed over 18 per cent to about $54 a barrel against a 3 per cent drop for the energy sector, although there is a wide disparity in performance among the 28 S&amp;P 500 energy stocks.&nbsp;

“If you look over the last 18 to 24 months, the reason why this space is so frustrating is that when oil rallies, they rally but not nearly to the degree you think that they should," Todd said. "But then when oil comes in, they get crushed.”

Investors have become wary of energy companies in the past out-spending their cash flows and of drilling wells without adequate returns, said Pearce Hammond, managing director at Simmons Energy in Houston.

"Basically, they were destroying capital," Hammond said. "It seems like this year has been the year when investors said, 'Stop.' "

Trump has sought to cut regulations involving energy and other natural resources companies, but the sector has still struggled during his administration.

“If you remove regulation, you are inviting more drilling which then adds supply which means lower prices," said Christian Ledoux, chief investment officer at South Texas Money Management in San Antonio.

Trump's tariff battle against China is raising concerns about the economy.&nbsp;

Indeed, falling long-dated yields in the US Treasury market have inverted the yield curve, a warning sign that a recession could be looming.

This could particularly hit energy stocks.

“It’s an economically sensitive space and they are probably one of the largest victims of any trade war concerns,” said Burns McKinney, portfolio manager with Allianz Global Investors in Dallas.

Energy shares underperformed on Friday as trade tensions escalated and China threatened to impose tariffs on US crude oil imports for the first time.

Some investors avoid the fossil fuel industry as they worry about the companies impact on climate change.&nbsp;

"The oil and gas companies, for a lot of investors, have become a bit of a pariah," Hammond said.

To be sure, the energy stocks have lagged so much that some strategists and investors say they are becoming appealing.

Citigroup equity strategist Tobias Levkovich rates the sector "overweight," noting it is at its most attractive valuation relative to the S&amp;P 500 since 2002.&nbsp;

But in a recent report, Levkovich conceded, "We along with others struggle to perceive which catalysts encourage the Street to step back into the sector, short of a major supply disruption."

Some investors say energy shares could benefit simply from a catch-up trade with oil.&nbsp;

Another factor, High dividend payout rates among some companies as US Treasury yields have tumbled.&nbsp;

Exxon Mobil Corp's dividend yields 5 per cent, while Occidental Petroleum Corp yields 7per cent, compared to just a 1.54 per cent yield on the 10-year US Treasury note.

“If you stick to investment-grade rated companies, there’s a pretty small list of energy companies to invest in, and if you did that you’d probably be OK,” said Ledoux, whose firm's holdings include Chevron Corp.

However, Robert Pavlik, chief investment strategist at SlateStone Wealth, who is slightly underweight the sector, said he could sell energy holdings should the stocks rise to lock in profits.

"I don’t think that there is that much upside," Pavlik said. "Where is oil going to go if the whole industry continues to shift (to alternative energy) as it is and we are looking at a slowdown in the economy?"

There may be little relief on the horizon for investors in US energy companies, whose shares moved from darlings to dismal performers during Wall Street's record bull run and now face a shaky global economy, doubts about fossil fuel investments and general market scepticism.

There may be little relief on the horizon for investors in US energy companies, whose shares moved from darlings to dismal performers during Wall Street's record bull run and now face a shaky global economy, doubts about fossil fuel investments and general market scepticism. Energy has been the worst-performing of the 11 S&P 500 sectors this year, the worst performer since US President Donald Trump's 2016 election and the worst performer since the US bull stock market began more than a decade ago. As a result, the S&P 500 energy sector has its lowest weight in the overall S&P 500 since at least 1995, according to Refinitiv Datastream data. It represents under 5 per cent of the benchmark index, down from over 15 per cent in mid-2008, when oil prices reached historic highs at over $140 a barrel, nearly three times current levels. But this year, the energy sector has even failed to keep pace with oil prices, despite their traditional tendency to move in the same direction. The poor returns raised some hope that the sector will soon find a floor that would allow it to rebound, especially those stocks with appealing dividends, but that remains to be seen. “The view of the sector, in general, has gotten to a point where it's a very difficult space for institutional investors to embrace because it`s been such a chronic underperformer,” said Walter Todd, chief investment officer at Greenwood Capital in South Carolina. Since the current bull run began in March 2009, the S&P 500, which many investors view as a proxy for the stock market, has soared well over 300 per cent, while the energy sector has climbed 32 per cent. Oil prices are up relatively little throughout the bull market, which has largely overlapped with a US economic expansion characterized by modest growth and with a boom in shale exploration that helped make the country the world`s top oil producer. This year, however, US crude prices have climbed over 18 per cent to about $54 a barrel against a 3 per cent drop for the energy sector, although there is a wide disparity in performance among the 28 S&P 500 energy stocks. “If you look over the last 18 to 24 months, the reason why this space is so frustrating is that when oil rallies, they rally but not nearly to the degree you think that they should," Todd said. "But then when oil comes in, they get crushed.” Investors have become wary of energy companies in the past out-spending their cash flows and of drilling wells without adequate returns, said Pearce Hammond, managing director at Simmons Energy in Houston. "Basically, they were destroying capital," Hammond said. "It seems like this year has been the year when investors said, 'Stop.' " Trump has sought to cut regulations involving energy and other natural resources companies, but the sector has still struggled during his administration. “If you remove regulation, you are inviting more drilling which then adds supply which means lower prices," said Christian Ledoux, chief investment officer at South Texas Money Management in San Antonio. Trump's tariff battle against China is raising concerns about the economy. Indeed, falling long-dated yields in the US Treasury market have inverted the yield curve, a warning sign that a recession could be looming. This could particularly hit energy stocks. “It’s an economically sensitive space and they are probably one of the largest victims of any trade war concerns,” said Burns McKinney, portfolio manager with Allianz Global Investors in Dallas. Energy shares underperformed on Friday as trade tensions escalated and China threatened to impose tariffs on US crude oil imports for the first time. Some investors avoid the fossil fuel industry as they worry about the companies impact on climate change. "The oil and gas companies, for a lot of investors, have become a bit of a pariah," Hammond said. To be sure, the energy stocks have lagged so much that some strategists and investors say they are becoming appealing. Citigroup equity strategist Tobias Levkovich rates the sector "overweight," noting it is at its most attractive valuation relative to the S&P 500 since 2002. But in a recent report, Levkovich conceded, "We along with others struggle to perceive which catalysts encourage the Street to step back into the sector, short of a major supply disruption." Some investors say energy shares could benefit simply from a catch-up trade with oil. Another factor, High dividend payout rates among some companies as US Treasury yields have tumbled. Exxon Mobil Corp's dividend yields 5 per cent, while Occidental Petroleum Corp yields 7per cent, compared to just a 1.54 per cent yield on the 10-year US Treasury note. “If you stick to investment-grade rated companies, there’s a pretty small list of energy companies to invest in, and if you did that you’d probably be OK,” said Ledoux, whose firm's holdings include Chevron Corp. However, Robert Pavlik, chief investment strategist at SlateStone Wealth, who is slightly underweight the sector, said he could sell energy holdings should the stocks rise to lock in profits. "I don’t think that there is that much upside," Pavlik said. "Where is oil going to go if the whole industry continues to shift (to alternative energy) as it is and we are looking at a slowdown in the economy?"

No ready spark is seen for lagging US energy shares

The domestic stock market indices ended lower today even as the Reserve Bank of India announced a bigger-than-expected 35-bps rate cut.&nbsp;

The six-member monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate to 5.40%, just above a 25 basis-point cut predicted by 80% of the 66 analysts polled by Reuters last month.

The broader NSE Nifty ended 0.85% lower at 10,855.50, while the benchmark BSE Sensex closed 0.77% and 286.35 points down at 36,690.50.

The public sector bank sector was the worst performer for the session, with its index closing down 3.4%, while the metals index ended 2.4% lower.

Indiabulls Housing Finance ended 13.4% in the red, while Zee Entertainment closed 2.9% higher.

(With inputs from Reuters)

The domestic stock market indices ended lower today even as the Reserve Bank of India announced a bigger-than-expected 35-bps rate cut. The six-member monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate to 5.

The domestic stock market indices ended lower today even as the Reserve Bank of India announced a bigger-than-expected 35-bps rate cut. The six-member monetary policy committee (MPC) of the Reserve Bank of India cut the repo rate to 5.40%, just above a 25 basis-point cut predicted by 80% of the 66 analysts polled by Reuters last month. The broader NSE Nifty ended 0.85% lower at 10,855.50, while the benchmark BSE Sensex closed 0.77% and 286.35 points down at 36,690.50. The public sector bank sector was the worst performer for the session, with its index closing down 3.4%, while the metals index ended 2.4% lower. Indiabulls Housing Finance ended 13.4% in the red, while Zee Entertainment closed 2.9% higher. (With inputs from Reuters)

Sensex falls nearly 300 points, Nifty ended at 10,855

American consumer optimism rebounded unexpectedly this month among American consumers, recovering from a trade-war fright in June, according to a survey released Tuesday.

Consumers again say jobs are plentiful, business conditions are good and incomes are likely to rise in the near future, according to Conference Board's monthly report.

The gains in consumer confidence overshot economists' expectations and should support consumption in the coming months while the economy slows.

The Conference Board's consumer confidence index rose more than 10 points to 135.7 in July.&nbsp;

"After a sharp decline in June, driven by an escalation in trade and tariff tensions, Consumer Confidence rebounded in July to its highest level this year," Lynn Franco, the Conference Board's head of economic indicators, said in a statement.

The report coincided with Commerce Department data showing a fifth consecutive monthly increase in personal income, suggesting retail spending should be healthy in the summer.

The Conference Board data showed views about the present and expectations for the near future rose sharply.&nbsp;

Confidence dimmed in June after trade talks with Beijing collapsed in May, prompting Trump to jack up duties on hundreds of billions in Chinese imports. He also threatened Mexico with steep tariffs in a border policy dispute.&nbsp;

But the US leader agreed with Chinese President Xi Jinping late last month to resume negotiations and cease further hostilities.

The share of survey respondents who say business conditions are good rose to the highest level since February while those saying jobs are plentiful hit its highest point since April.

Most survey respondents expected business conditions, employment and incomes to remain about the same over the next six months -- but the share of those expecting improvements in each rose modestly.

RDQ Economics said Tuesday the confidence data weakened the case for cutting interest rates, as the Federal Reserve is widely expected to do on Wednesday.

The survey "points to strength that is inconsistent with the need for an insurance cut and the case for one-and-done for now has grown," RDQ said in a note to clients.

American consumer optimism rebounded unexpectedly this month among American consumers, recovering from a trade-war fright in June, according to a survey released Tuesday.

American consumer optimism rebounded unexpectedly this month among American consumers, recovering from a trade-war fright in June, according to a survey released Tuesday. Consumers again say jobs are plentiful, business conditions are good and incomes are likely to rise in the near future, according to Conference Board's monthly report. The gains in consumer confidence overshot economists' expectations and should support consumption in the coming months while the economy slows. The Conference Board's consumer confidence index rose more than 10 points to 135.7 in July. "After a sharp decline in June, driven by an escalation in trade and tariff tensions, Consumer Confidence rebounded in July to its highest level this year," Lynn Franco, the Conference Board's head of economic indicators, said in a statement. The report coincided with Commerce Department data showing a fifth consecutive monthly increase in personal income, suggesting retail spending should be healthy in the summer. The Conference Board data showed views about the present and expectations for the near future rose sharply. Confidence dimmed in June after trade talks with Beijing collapsed in May, prompting Trump to jack up duties on hundreds of billions in Chinese imports. He also threatened Mexico with steep tariffs in a border policy dispute. But the US leader agreed with Chinese President Xi Jinping late last month to resume negotiations and cease further hostilities. The share of survey respondents who say business conditions are good rose to the highest level since February while those saying jobs are plentiful hit its highest point since April. Most survey respondents expected business conditions, employment and incomes to remain about the same over the next six months -- but the share of those expecting improvements in each rose modestly. RDQ Economics said Tuesday the confidence data weakened the case for cutting interest rates, as the Federal Reserve is widely expected to do on Wednesday. The survey "points to strength that is inconsistent with the need for an insurance cut and the case for one-and-done for now has grown," RDQ said in a note to clients.

US consumer confidence highest of 2019 as tariff shock abates

Domestic stock markets were trading marginally higher on Thursday tracking the muted trend in Asian equities amid a mixed bag of corporate earnings.&nbsp;

At 9.20 am, the benchmark Sensex Index rose 0.26% to 37944.84 points, while Nifty index rose 0.17% to 11293.80 points.

On Wednesday, the BSE S&amp;P Sensex closed 135 points lower at 37,848 while Nifty 50 plunged 60 points at 11,271. At the National Stock Exchange, all sectoral indices were in the negative territory except for FMCG and media. Nifty metal tumbled by 2.37 per cent, auto by 1.95 per cent, pharma by 1.77 per cent and PSU bank by 1.73 per cent.

At 10:00 hrs IST, the Sensex is up 307.39 points or 0.81% at 38,148, and the Nifty up 85.75 points or 0.75% at 11,355.65.&nbsp;

About 505 shares have advanced, 353 shares declined, and 42 shares are unchanged.

(With inputs from agencies)

Domestic stock markets were trading marginally higher on Thursday tracking the muted trend in Asian equities amid a mixed bag of corporate earnings. At 9.20 am, the benchmark Sensex Index rose 0.

Domestic stock markets were trading marginally higher on Thursday tracking the muted trend in Asian equities amid a mixed bag of corporate earnings. At 9.20 am, the benchmark Sensex Index rose 0.26% to 37944.84 points, while Nifty index rose 0.17% to 11293.80 points. On Wednesday, the BSE S&P Sensex closed 135 points lower at 37,848 while Nifty 50 plunged 60 points at 11,271. At the National Stock Exchange, all sectoral indices were in the negative territory except for FMCG and media. Nifty metal tumbled by 2.37 per cent, auto by 1.95 per cent, pharma by 1.77 per cent and PSU bank by 1.73 per cent. At 10:00 hrs IST, the Sensex is up 307.39 points or 0.81% at 38,148, and the Nifty up 85.75 points or 0.75% at 11,355.65. About 505 shares have advanced, 353 shares declined, and 42 shares are unchanged. (With inputs from agencies)

Markets on a positive note: Sensex gains 300 points, Nifty around 11,350

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses.

The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next. Global growth is forecast at 3.2 per cent in 2019, picking up to 3.5 per cent in 2020 — 0.1 per cent point lower than in April projections for both years.

At 10:15 am, the BSE S&amp;P Sensex was down 197 points at 37,786 while the Nifty 50 slipped 71 points to 11,260.

Except for financial services, all sectoral indices at the National Stock Exchange were in the red.&nbsp;

The Nifty metal was down 1.21 per cent, auto 1.17 per cent and realty 1.16 per cent.

Among stocks, Bharat Petroleum Corporation edged 3.2 per cent lower while Vedanta was down 2 per cent. Eicher Motors, JSW Steel and Britannia were down by over 1.6 per cent each.

However, HDFC gained 1.6 per cent while Yes Bank moved up by 1.5 per cent. The other gainers were Larsen &amp; Toubro, Hindustan Lever and Zee Entertainment.

Meanwhile, most stocks rose in Asia after reports that the United States and China will resume trade talks next week with US Trade Representative Robert Lighthizer travelling to Shanghai.

Japan's Nikkei added 0.5 per cent, MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent and Chinese blue chips climbed 1.2 per cent.

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses. The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next.

Equities traded lower during early hours on Wednesday amid weak global cues with auto and realty indices showing the most losses. The International Monetary Fund (IMF) cut its growth forecasts for the global economy for this year and the next. Global growth is forecast at 3.2 per cent in 2019, picking up to 3.5 per cent in 2020 — 0.1 per cent point lower than in April projections for both years. At 10:15 am, the BSE S&P Sensex was down 197 points at 37,786 while the Nifty 50 slipped 71 points to 11,260. Except for financial services, all sectoral indices at the National Stock Exchange were in the red. The Nifty metal was down 1.21 per cent, auto 1.17 per cent and realty 1.16 per cent. Among stocks, Bharat Petroleum Corporation edged 3.2 per cent lower while Vedanta was down 2 per cent. Eicher Motors, JSW Steel and Britannia were down by over 1.6 per cent each. However, HDFC gained 1.6 per cent while Yes Bank moved up by 1.5 per cent. The other gainers were Larsen & Toubro, Hindustan Lever and Zee Entertainment. Meanwhile, most stocks rose in Asia after reports that the United States and China will resume trade talks next week with US Trade Representative Robert Lighthizer travelling to Shanghai. Japan's Nikkei added 0.5 per cent, MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent and Chinese blue chips climbed 1.2 per cent.

Nifty slips below 11,300 mark, auto and realty stocks drag

The key Indian equity indices opened on a negative note on Monday, with the BSE Sensex losing over 250 points.

At 10:30 am Sensex is trading 249 points, or 0.65%, lower at 38,088, with Bajaj Finance, HDFC Bank, HDFC, IndusInd Bank, and Kotak Bank among the top losers. The broader Nifty50 index cracked 60 points,or 0.52%, to 11,360.

All the Nifty sectoral indices, except Nifty IT and Nifty Metal indexes, were trading in the red. While Nifty Realty index bled the most 2.07 per cent, Nifty PSU Bank, Nifty Private Bank, and Nifty Bank indexes were all down over 1 per cent.

In the broader market, the S&amp;P BSE MidCap index was down 164 points, or 1.17 per cent, to 13,914, while the S&amp;P BSE SmallCap index was down 206 points, or 1.54 per cent, to 13,104.

The key Indian equity indices opened on a negative note on Monday, with the BSE Sensex losing over 250 points. At 10:30 am Sensex is trading 249 points, or 0.65%, lower at 38,088, with Bajaj Finance, HDFC Bank, HDFC, IndusInd Bank, and Kotak Bank among the top losers.

The key Indian equity indices opened on a negative note on Monday, with the BSE Sensex losing over 250 points. At 10:30 am Sensex is trading 249 points, or 0.65%, lower at 38,088, with Bajaj Finance, HDFC Bank, HDFC, IndusInd Bank, and Kotak Bank among the top losers. The broader Nifty50 index cracked 60 points,or 0.52%, to 11,360. All the Nifty sectoral indices, except Nifty IT and Nifty Metal indexes, were trading in the red. While Nifty Realty index bled the most 2.07 per cent, Nifty PSU Bank, Nifty Private Bank, and Nifty Bank indexes were all down over 1 per cent. In the broader market, the S&P BSE MidCap index was down 164 points, or 1.17 per cent, to 13,914, while the S&P BSE SmallCap index was down 206 points, or 1.54 per cent, to 13,104.

Sensex sheds over 250 points as equity indices open in red

Equity benchmark indices erased opening gains in early hours on Friday due to profit booking with the Nifty auto dropping 1.3 per cent.

At 10:15 am, the BSE S&amp;P Sensex was down 238 points at 38,660 while the Nifty 50 slipped 69 points to 11,528. At the National Stock Exchange, all sectoral indices were in the red.

Among stocks, Yes Bank continued its downward slide and dipped 2 per cent lower at Rs 84.05 per share. In the auto sector, Mahindra &amp; Mahindra and Hero MotoCorp between 1.3 per cent and 1.9 per cent respectively.

The other prominent losers were Maruti, GAIL, Indian Oil, ONGC, Bajaj Finance and Bajaj Finserv.

However, UltraTech Cement gained 1.7 per cent to Rs 4,680 per share. Titan, Powergrid, Vedanta and Tata Steel showed marginal gains.

Meanwhile, Asian stocks advanced after a top Federal Reserve official cemented expectations of a US interest rate cut later this month.

The Shanghai Composite Index and Hong Kong's Hang Seng were both up 1 per cent. South Korea's KOSPI also rose 1 per cent and Japan's Nikkei advanced 1.65 per cent.&nbsp; 
&nbsp;

Equity benchmark indices erased opening gains in early hours on Friday due to profit booking with the Nifty auto dropping 1.3 per cent. At 10:15 am, the BSE S&P Sensex was down 238 points at 38,660 while the Nifty 50 slipped 69 points to 11,528.

Equity benchmark indices erased opening gains in early hours on Friday due to profit booking with the Nifty auto dropping 1.3 per cent. At 10:15 am, the BSE S&P Sensex was down 238 points at 38,660 while the Nifty 50 slipped 69 points to 11,528. At the National Stock Exchange, all sectoral indices were in the red. Among stocks, Yes Bank continued its downward slide and dipped 2 per cent lower at Rs 84.05 per share. In the auto sector, Mahindra & Mahindra and Hero MotoCorp between 1.3 per cent and 1.9 per cent respectively. The other prominent losers were Maruti, GAIL, Indian Oil, ONGC, Bajaj Finance and Bajaj Finserv. However, UltraTech Cement gained 1.7 per cent to Rs 4,680 per share. Titan, Powergrid, Vedanta and Tata Steel showed marginal gains. Meanwhile, Asian stocks advanced after a top Federal Reserve official cemented expectations of a US interest rate cut later this month. The Shanghai Composite Index and Hong Kong's Hang Seng were both up 1 per cent. South Korea's KOSPI also rose 1 per cent and Japan's Nikkei advanced 1.65 per cent.

Sensex drops 237 points on profit-booking, Nifty below 11,600

Equity benchmark indices were lower during early hours on Thursday tracking weak global cues and continued selling by foreign investors.

At 10:15 am, the BSE S&amp;P Sensex was down 54 points at 39,162 while the Nifty 50 slipped 20 points to 11,667.&nbsp;

At the National Stock Exchange, all sectoral indices were in the red except for Nifty financial services.

Among stocks, Yes Bank dipped 10.72 per cent lower at Rs 87.85 per share after reporting 91 per cent drop in its net profit and bad loans worth Rs 6,230 crore during the first quarter of current fiscal.

The other losers were mining major Vedanta, ONGC, Tata Motors and HCL Tech. However, Wipro gained 2.85 per cent to Rs 267 per share. UPL, HDFC, Indiabulls Housing Finance and Bharti Airtel saw marginal gains.&nbsp;

Meanwhile, Asian shares edged lower as Wall Street stocks dropped on signs that the US-China trade war could hurt corporate earnings. Earlier in the week, US President Donald Trump kept up the pressure on Beijing with a threat to put tariffs on another 325 billion dollars of Chinese goods.&nbsp;

The benchmark Nikkei shed 1.7 per cent and Chinese shares followed the suit with Shanghai Composite and blue-chip CSI 300 down 0.7 per cent and 0.6 per cent respectively.&nbsp;

Hong Kong`s Hang Seng retreated 0.5 per cent and South Korea`s market was off 0.4 per cent after the Bank of Korea unexpectedly cut its policy interest rate for the first time in three years.

Equity benchmark indices were lower during early hours on Thursday tracking weak global cues and continued selling by foreign investors. At 10:15 am, the BSE S&P Sensex was down 54 points at 39,162 while the Nifty 50 slipped 20 points to 11,667.

Equity benchmark indices were lower during early hours on Thursday tracking weak global cues and continued selling by foreign investors. At 10:15 am, the BSE S&P Sensex was down 54 points at 39,162 while the Nifty 50 slipped 20 points to 11,667. At the National Stock Exchange, all sectoral indices were in the red except for Nifty financial services. Among stocks, Yes Bank dipped 10.72 per cent lower at Rs 87.85 per share after reporting 91 per cent drop in its net profit and bad loans worth Rs 6,230 crore during the first quarter of current fiscal. The other losers were mining major Vedanta, ONGC, Tata Motors and HCL Tech. However, Wipro gained 2.85 per cent to Rs 267 per share. UPL, HDFC, Indiabulls Housing Finance and Bharti Airtel saw marginal gains. Meanwhile, Asian shares edged lower as Wall Street stocks dropped on signs that the US-China trade war could hurt corporate earnings. Earlier in the week, US President Donald Trump kept up the pressure on Beijing with a threat to put tariffs on another 325 billion dollars of Chinese goods. The benchmark Nikkei shed 1.7 per cent and Chinese shares followed the suit with Shanghai Composite and blue-chip CSI 300 down 0.7 per cent and 0.6 per cent respectively. Hong Kong`s Hang Seng retreated 0.5 per cent and South Korea`s market was off 0.4 per cent after the Bank of Korea unexpectedly cut its policy interest rate for the first time in three years.

Equity gauges on a weak note, Yes Bank drops over 11 per cent

Domestic stock markets on Thursday opened in green with BSE Sensex registering a gain of around 194 points at 38,751.62 in morning trade today. NSE Nifty, on the other hand, climbed up by 62 points to open at 11,561.45.&nbsp;

On Wednesday, <a href="news.com/business-economy/nifty-sensex-close-lower-financials-drag-234651">the benchmark indices closed lower</a>. While Nifty closed down 0.49 per cent at 11,498.90, the benchmark BSE Sensex settled 0.45 per cent lower at 38,557.04 yesterday.

Earlier in the day on Wednesday, the stock market opened on a negative note.

BSE Sensex lost around 28 points as compared to its previous of 38,730.82 points, recording 38,701.99 in morning trade. It made a quick recovery, touching a high of 38,854.85.&nbsp;

NSE Nifty, on the other hand, opened at 11,536.15 - down by over 19 points - as compared to its previous close of 11,555.90. It touched 11,593.70 in morning trade yesterday. &nbsp;

Domestic stock markets on Thursday opened in green with BSE Sensex registering a gain of around 194 points at 38,751.62 in morning trade today. NSE Nifty, on the other hand, climbed up by 62 points to open at 11,561.

Domestic stock markets on Thursday opened in green with BSE Sensex registering a gain of around 194 points at 38,751.62 in morning trade today. NSE Nifty, on the other hand, climbed up by 62 points to open at 11,561.45. On Wednesday, the benchmark indices closed lower. While Nifty closed down 0.49 per cent at 11,498.90, the benchmark BSE Sensex settled 0.45 per cent lower at 38,557.04 yesterday. Earlier in the day on Wednesday, the stock market opened on a negative note. BSE Sensex lost around 28 points as compared to its previous of 38,730.82 points, recording 38,701.99 in morning trade. It made a quick recovery, touching a high of 38,854.85. NSE Nifty, on the other hand, opened at 11,536.15 - down by over 19 points - as compared to its previous close of 11,555.90. It touched 11,593.70 in morning trade yesterday.

Positive morning for stock market; Sensex gains 194 points, Nifty hovers over 11,500 mark 

Markets registered biggest fall of 2019 yesterday. Weakness in global markets pulling down stocks. Sensex, Nifty down by around 0.5% in morning trade. Watch this video to know more.

Indian markets continue downward March

Equity benchmark indices fell during early hours on Tuesday in line with Asian stocks as heavy rains in the financial capital prompted authorities to declare a public holiday.

Investors were cautious after Monday's rally ahead of the Economic Survey and Union Budget later this week.

At 10:15 am, the BSE S&amp;P Sensex was down 104 points at 39,583 while the Nifty 50 shed 30 points to 11,833. Except for FMCG, IT and metal, all sectoral indices at the National Stock Exchange were in the negative territory.

Nifty realty was down over 1.4 per cent. Yes Bank dived 5.8 per cent to Rs 102.75 per share.

Cox and Kings was down 4.9 per cent as the company defaulted on Rs 50 crore payment out of the aggregate amount of Rs 65 crore.

Major auto stocks too tumbled after reporting poor sales.

Tata Motors, Hero MotorCorp, Bajaj Auto and Eicher Motors were all in the red.

However, energy stocks like ONGC, Bharat Petroleum, Indian Oil and NTPC showed marginal improvements.

Meanwhile, Asian stocks were mixed as enthusiasm over the US-China trade truce proved short-lived as weak global manufacturing activity data reinforced worries about slowing growth.

Hong Kong shares climbed as the city`s market reopened after a holiday despite violent local protests overnight. Japanese and South Korean shares were little changed.

Equity benchmark indices fell during early hours on Tuesday in line with Asian stocks as heavy rains in the financial capital prompted authorities to declare a public holiday.

Equity benchmark indices fell during early hours on Tuesday in line with Asian stocks as heavy rains in the financial capital prompted authorities to declare a public holiday. Investors were cautious after Monday's rally ahead of the Economic Survey and Union Budget later this week. At 10:15 am, the BSE S&P Sensex was down 104 points at 39,583 while the Nifty 50 shed 30 points to 11,833. Except for FMCG, IT and metal, all sectoral indices at the National Stock Exchange were in the negative territory. Nifty realty was down over 1.4 per cent. Yes Bank dived 5.8 per cent to Rs 102.75 per share. Cox and Kings was down 4.9 per cent as the company defaulted on Rs 50 crore payment out of the aggregate amount of Rs 65 crore. Major auto stocks too tumbled after reporting poor sales. Tata Motors, Hero MotorCorp, Bajaj Auto and Eicher Motors were all in the red. However, energy stocks like ONGC, Bharat Petroleum, Indian Oil and NTPC showed marginal improvements. Meanwhile, Asian stocks were mixed as enthusiasm over the US-China trade truce proved short-lived as weak global manufacturing activity data reinforced worries about slowing growth. Hong Kong shares climbed as the city`s market reopened after a holiday despite violent local protests overnight. Japanese and South Korean shares were little changed.

Equity gauges fall in early trading, auto and financial stocks in the red

After ending in red on the previous close on Monday, the domestic stock market on Tuesday closed in green. While BSE Sensex went up 85.55 points to close at 39,046.34, NSE Nifty climbed 19.35 points at 11,691.50.

Sensex rebounded more than 150 points in the opening trade today morning and traded marginally higher at 38,969.76 at around 9.45 am. Nifty was trading slightly up at 11,678.25.

On Monday, BSE Sensex plunged 491.28 points to end at 38,960.79. Nifty, on the other hand, dropped 151.15 points to close at 11,672.15.

The stock market indices opened lower in early trade on Monday morning and continued to trade low this afternoon amid rising global crude oil prices and international trade tensions.

Meanwhile, the rupee gained 11 paise to 69.80 against the US dollar in opening trade.&nbsp;

(With inputs from agencies)&nbsp;

After ending in red on the previous close on Monday, the domestic stock market on Tuesday closed in green. While BSE Sensex went up 85.55 points to close at 39,046.

After ending in red on the previous close on Monday, the domestic stock market on Tuesday closed in green. While BSE Sensex went up 85.55 points to close at 39,046.34, NSE Nifty climbed 19.35 points at 11,691.50. Sensex rebounded more than 150 points in the opening trade today morning and traded marginally higher at 38,969.76 at around 9.45 am. Nifty was trading slightly up at 11,678.25. On Monday, BSE Sensex plunged 491.28 points to end at 38,960.79. Nifty, on the other hand, dropped 151.15 points to close at 11,672.15. The stock market indices opened lower in early trade on Monday morning and continued to trade low this afternoon amid rising global crude oil prices and international trade tensions. Meanwhile, the rupee gained 11 paise to 69.80 against the US dollar in opening trade. (With inputs from agencies)

Markets end in green; Sensex up by 85 points, Nifty at 11,691

The domestic stock markets on Thursday ended on a tepid note as BSE Sensex settled 15.45 points lower at 39,741.36 while NSE Nifty inched up 7.85 points to close at 11,914.05.

In early trade, BSE Sensex fell over 100 points amid heavy foreign fund outflow and negative global cues.

Nifty was quoted 35.90 points, or 0.30 per cent, down at 11,870.30 in opening trade today. 
&nbsp; 
On Wednesday, Sensex and Nifty both ended in red snapping former's three-day rising streak.

While Sensex ended 194 points lower, Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20.&nbsp;

The domestic currency on Thursday depreciated marginally to 69.37 against the US dollar.

Meanwhile, the global oil benchmark Brent crude futures were trading 0.08 per cent lower at 59.92 per barrel.

The domestic stock markets on Thursday ended on a tepid note as BSE Sensex settled 15.45 points lower at 39,741.36 while NSE Nifty inched up 7.85 points to close at 11,914.

The domestic stock markets on Thursday ended on a tepid note as BSE Sensex settled 15.45 points lower at 39,741.36 while NSE Nifty inched up 7.85 points to close at 11,914.05. In early trade, BSE Sensex fell over 100 points amid heavy foreign fund outflow and negative global cues. Nifty was quoted 35.90 points, or 0.30 per cent, down at 11,870.30 in opening trade today. On Wednesday, Sensex and Nifty both ended in red snapping former's three-day rising streak. While Sensex ended 194 points lower, Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20. The domestic currency on Thursday depreciated marginally to 69.37 against the US dollar. Meanwhile, the global oil benchmark Brent crude futures were trading 0.08 per cent lower at 59.92 per barrel.

Sensex falls 15 points, Nifty inches up to close at 11,914.05

Snapping its three-day rising streak, domestic equity benchmark BSE Sensex ended 194 points lower Wednesday, dragged by losses in banking and auto stocks amid weak global cues.

Investors were also cautious ahead of the release of inflation and factory output numbers, traders said.

After slumping over 300 points during the day, the BSE gauge pared some losses to settle 193.65 points, or 0.48 per cent, lower at 39,756.81. The index hit an intra-day low of 39,623.53 and a high of 39,982.10.

Similarly, the broader NSE Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20. During the day, the index touched a low of 11,866.35 and a high of 11,962.45.

Yes Bank was the worst performer in the Sensex pack, declining 3.34 per cent, after Moody's placed the private sector lender's ratings under review for a possible downgrade.

Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.

On the other hand, Tata Steel, ONGC, Vedanta, Sun Pharma, TCS, RIL, HUL and ITC bucked the weak market trend and gained up to 2.60 per cent.

According to experts, the market mood turned negative tracking weak cues from overseas markets after US President Donald Trump Tuesday said he was not interested in a trade deal with China unless it agreed to four-five major points.

Elsewhere in Asia, Shanghai Composite Index fell 0.56 per cent, Hang Seng ended 1.73 per cent lower, Nikkei slipped 0.35 per cent and Kospi shed 0.14 per cent.

Bourses in Europe were also trading in the red in their early deals.

On the currency front, the Indian rupee appreciated 10 paise to 69.34 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, dived 2.57 per cent to $60.69 per barrel.

Snapping its three-day rising streak, domestic equity benchmark BSE Sensex ended 194 points lower Wednesday, dragged by losses in banking and auto stocks amid weak global cues.

Snapping its three-day rising streak, domestic equity benchmark BSE Sensex ended 194 points lower Wednesday, dragged by losses in banking and auto stocks amid weak global cues. Investors were also cautious ahead of the release of inflation and factory output numbers, traders said. After slumping over 300 points during the day, the BSE gauge pared some losses to settle 193.65 points, or 0.48 per cent, lower at 39,756.81. The index hit an intra-day low of 39,623.53 and a high of 39,982.10. Similarly, the broader NSE Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20. During the day, the index touched a low of 11,866.35 and a high of 11,962.45. Yes Bank was the worst performer in the Sensex pack, declining 3.34 per cent, after Moody's placed the private sector lender's ratings under review for a possible downgrade. Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent. On the other hand, Tata Steel, ONGC, Vedanta, Sun Pharma, TCS, RIL, HUL and ITC bucked the weak market trend and gained up to 2.60 per cent. According to experts, the market mood turned negative tracking weak cues from overseas markets after US President Donald Trump Tuesday said he was not interested in a trade deal with China unless it agreed to four-five major points. Elsewhere in Asia, Shanghai Composite Index fell 0.56 per cent, Hang Seng ended 1.73 per cent lower, Nikkei slipped 0.35 per cent and Kospi shed 0.14 per cent. Bourses in Europe were also trading in the red in their early deals. On the currency front, the Indian rupee appreciated 10 paise to 69.34 against the US dollar intra-day. Brent crude futures, the global oil benchmark, dived 2.57 per cent to $60.69 per barrel.

Sensex slumps 194 points; Yes Bank tumbles over 3%

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