Sensex, Nifty Snap 8-day Winning Streak; Automakers Top Losers

RTTNews | 1380 days ago
Sensex, Nifty Snap 8-day Winning Streak; Automakers Top Losers

(RTTNews) - Indian shares fell notably on Friday to snap an eight-day winning streak, with auto, FMCG and IT stocks leading losses.

Benchmark indexes fell from record highs as caution prevailed ahead of key U.S. jobs data due later in the day that is expected to show a sizable slowdown in hiring.

Recession fears returned to haunt investors after data released on Thursday showed global factory output fell widely last month, with U.S. manufacturing declining for the first time since May 2020.

The benchmark S&P BSE Sensex fell 415.69 points, or 0.66 percent, to 62,868.50 after eight consecutive sessions of gains and a record-breaking closing streak of six days. The broader NSE Nifty index settled 116.40 points, or 0.62 percent, lower at 18,696.10.

Among the prominent decliners, Hindustan Unilever, Hero MotoCorp, Mahindra & Mahindra, Tata Consumer Products and Eicher Motors lost 2-3 percent. TCS and Infosys fell around 1 percent each in the IT pack.

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TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.
RTTNews | 11h 22min ago
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.
RTTNews | 11h 56min ago
European Markets Rise As Oil Prices Fall On IEA Demand Cut

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.
RTTNews | 12h 19min ago
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.
RTTNews | 15h 40min ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair
RTTNews | 15h 49min ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.
RTTNews | 16h 29min ago