Sensex Today | Share Market Updates: Stocks around the world rose after the Fed opted against raising its key interest rate late Wednesday.
In financial markets, investors took comments from the Fed chair to mean that recent jumps in longer-term Treasury yields are acting as rate-hike substitutes and could avoid the need for more increases by the Fed.
In the domestic market, FIIs on Thursday sold stocks resulting in an outflow of ₹1,261.19 crore, according to NSE data. DIIs bought shares resulting in an inflow of ₹1,380.15 crore, the exchange data showed.
Sensex Today Live | Share Market Updates: The $450mn gap staring TCS
Tata Consultancy Services (TCS) Ltd boss K. Krithivasan is fighting a new problem that is not of the company’s making: Compensating for a nearly $450 million loss in annual business.
Earlier this week, Deutsche Bank announced it would close nearly half of Postbank’s 550 branches over the next two years as Germany’s largest bank sees more customers prefer online banking to going into a branch.
It was only in November 2020 that Tata Consultancy Services (TCS) bought Postbank Systems AG, Postbank’s IT company, as the Mumbai-based technology services company looked to do more business with its German client. (Read more)
Sensex Today Live: Wall Street jumps to its best week of 2023 on hope of stop to rate gains
Wall Street roared higher again Thursday on hopes that the Federal Reserve may finally be done with its market swings to interest rates.
The S&P 500 jumped 1.9% for its fourth straight winning day. It is already up 4.9% this week and on pace for its best week in nearly a year.
The Dow Jones Industrial Average jumped 564 points, or 1.7%, and the Nasdaq composite climbed 1.8%.
Stocks around the world rose after the Federal Reserve opted against raising its key interest rate late Wednesday. It has already raised rates furiously since the start of last year in hopes of slowing the economy and damaging financial markets enough to starve high inflation of its fuel.
More importantly for financial markets, investors also took comments from the Fed chair to mean that recent jumps in longer-term Treasury yields are acting as rate hike substitutes and could obviate the need for more increases by the Fed. (AP)