Sensex Today | Share Market Updates: FIIs took a breather off its selling spell and shifted gears on Thursday after domestic equity benchmarks Sensex and Nifty scaled fresh record-high peaks on positive macroeconomic data. The DIIs were net sellers and offloaded ₹50 crore in Indian stocks today.
The ECB raised its key interest rate to an all-time record-high level on Thursday and signalled this will likely be its final move in a more-than-a-year-long fight against stubbornly high inflation. The decision raised the benchmark deposit rate to 4%, up drastically from minus 0.5% just a little more than a year ago and the highest since the euro was established in 1999.
One report from the US said that shoppers spent more at retailers last month than economists expected. Such spending has been a linchpin for the economy, but it could also encourage retailers to keep trying to raise prices further.
15 Sep 2023, 07:30:45 AM IST
Sensex Today Live | Share Market Updates: Govt moves HC against order in RIL gas dispute
The Centre on Thursday filed a petition challenging a Delhi high court order in favour of Reliance Industries Ltd (RIL) regarding a gas dispute in the Krishna Godavari Basin.
The court has asked RIL to file a response, a counsel aware of the matter said. A division bench of the Delhi High Court has agreed to hear the matter on 12 February.
The dispute began in 2013, when state-owned Oil and Natural Gas Corp. (ONGC) Ltd wrote to the director general of hydrocarbons, alleging there was evidence of ‘lateral continuity’ of gas pools between the Reliance block and the adjacent blocks allocated to ONGC. This meant that the gas pools of the Reliance block and the ONGC blocks appeared to be connected with possible migration of gas between the two blocks. (Read More)
15 Sep 2023, 07:29:18 AM IST
Sensex Today Live | Share Market Updates: SoftBank’s Arm lists at $56.10 apiece in a stellar Nasdaq debut; surges nearly 25% to $65 billion valuation
SoftBank’s Arm Holdings made a decent debut on the Nasdaq Thursday. Chip designer Arm’s American Depositary Shares opened at $56.10 apiece compared with the initial public offering price of $51.
After the stellar listing, Arm share price surged 24.68% to close at $63.59 on the first day of the trading, giving the British chip designer a valuation of $65 billion in its return to public markets following a seven-year absence, Reuters reported. (Reuters)
15 Sep 2023, 07:28:25 AM IST
Sensex Today Live | Share Market Updates: Wall Street climbs, and Dow rises more than 300 points as stocks worldwide rally
Wall Street rose Thursday after a blizzard of reports suggested the U.S. economy is still humming, though inflation may be too.
The S&P 500 climbed 0.8% for its best day in two weeks. The Dow Jones Industrial Average rallied 331 points, or 1%, and the Nasdaq composite added 0.8%.
Some of the strongest action was in the bond market, where Treasury yields swung up and down several times. While the reports bolstered hopes the U.S. economy will avoid a deep recession, the strength underlying them could also add upward pressure on inflation.
One report said U.S. shoppers spent more at retailers last month than economists expected. Such spending has been a linchpin for the economy, but it could also encourage retailers to keep trying to raise prices further.
The strong spending is a result of a remarkably resilient job market, which has withstood a steep jump in interest rates. A separate report Thursday morning said fewer workers applied for unemployment benefits last week than expected, which implies the number of layoffs remains low. (AP)
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