Selling shows no signs of abating on D-Street; financials top drags

selling shows no signs of abating on d street financials top drags

Sumary of Selling shows no signs of abating on D-Street; financials top drags:

  • NEW DELHI: Benchmark indices managed to open with gains on Thursday but the joy was short-lived as they succumbed to selling pressure amid concerns over earlier than expected interest rate hikes.
  • A separate report from the US Commerce Department on Wednesday showed gross domestic product rose at a 2.1 per cent rate in the third quarter.
  • Fed indicates quick rate hikes: A growing number of Fed policymakers indicated they would be open to speeding up the elimination of their bond-buying program if high inflation held and move more quickly to raise interest rates, minutes of the US central bank’s last policy meeting showed.
  • Dollar on a high: The dollar index edged 0.1 per cent lower off its highest in 16 months hit on Wednesday.

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