Sensex Today | Share Market Live Updates: Sensex, Nifty expect muted start
Sensex Today | Share Market Updates: The MPC, as widely expected, maintained the status quo on policy actions, voting unanimously to hold the repo rate at 6.5%. The stance remained “focused on withdrawal of accommodation”. On liquidity management, the instrumentality of the 10% incremental CRR was a bit of a surprise.
The domestic equity market witnessed an all-round selloff on Thursday as RBI raised inflation projections for the current financial year due to the recent rise in vegetable, cereals and pulses prices.
US inflation data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%. A look beyond the headline number revealed that core inflation remained sticky,
Stock Market Today Live: Wall Street ends flat on Thursday, after pop from July inflation data fizzles
Wall Street’s main indexes finished flat on Thursday, giving up most early gains on milder-than-feared inflation data as investors worried about the U.S. economy’s longer-term prospects and whether stocks had further room to run.
Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%.
In the first hour of trading, the three benchmark indexes advanced more than 1% as traders bet the U.S. Federal Reserve would stop further monetary tightening in 2023 and start cutting interest rates early next year.
Stock prices started to sag from late-morning onwards, and bounced between positive and negative territory for much of the afternoon.
“People looked at the headline number first and we had the big upswing, but as the day went on, the rally faded and that was probably the right reaction,” said Gregg Abella, CEO of Investment Partners Asset Management.
He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. (Reuters)
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