The Federal Reserve’s announcement that interest rates will be higher for longer has worsened risk sentiment, which has driven U.S. stocks to session lows. As a result, equity markets in Asia are likely to experience selling pressure. A gauge for Chinese stocks listed on U.S. exchanges dropped for a fourth straight session, while futures for benchmarks in Australia and Japan dipped. Wall Street losses were led by big tech, with the Nasdaq 100 down 1.5 percent.
In addition, central bank announcements are scheduled for Thursday from the Philippines, Indonesia, and the United Kingdom. Updated quarterly predictions revealed that 12 of the Fed’s 19 officials supported another rate hike in 2023, but the Fed maintained its goal range of 5.25% to 5.5%. Officials, according to Jerome Powell, are “prepared to hike rates further if necessary, and we expect to hold policy at
The GIFT Nifty, an early predictor of the performance of the Nifty 50 Index in India, was up 8 points or 0.04% at 19,958 at 5:04 a.m. In advance of the U.S. Federal Reserve policy, the major stock indices in India experienced a second straight session of lower closing prices on Wednesday. The indices dropped more than 1% during the day, the highest since August 2. The majority of sectoral indexes fell, led by non-bank financial services, banks, and me
For the second straight session on Wednesday, foreign investors continued to be net sellers of Indian stocks. According to preliminary NSE statistics, foreign portfolio investors offloaded shares worth Rs 3,110.69 crore. On Wednesday, domestic institutional investors sold shares worth Rs 573.02 crore, turning net sellers. The local currency rose 19 paise to end the day at Rs 83.08 against the dollar.
The IT major and NVIDIA have partnered to create generative AI software and applications. The expanded relationship unites Infosys Topaz, an AI service suite that was unveiled earlier this year, and Nvidia AI Enterprise. Together, the businesses will train 50,000 Infosys employees on NVIDIA AI.
In place of the current RTA Alankit Assignments, the state-run lender has hired KFin Technologies as the Registrar and Share Transfer Agent (RTA). It is currently being formalised to change the RTA in terms of documentation, electronic connectivity, and data transfer.
From September 11 to September 13, the USFDA inspected InvaGen Pharmaceuticals Inc.’s New York manufacturing site. Five inspectional observations in Form 483 have been made about InvaGen. No repetition or data integrity (DI) observations have been made.
Production of bias and OTR tyres has been halted at their plant in Limda, Gujarat, as a result of worries among shop floor workers on the extension of the long-term settlement agreement. To address these concerns, the corporation is in conversations and negotiations with labour union officials.
The Ministry of Defence has awarded the company a contract for Rs 14.3 crore, to be completed over a 24-month period, for the provision of a variety of onboard centrifugal pumps and spare parts for various classes of ships.
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