HDFC Bank, ITC lift Sensex 100 pts on late buying; Nifty ends atop 19,600

CLOSING BELL ON SEPTEMBER 06, 2023: The Sensex gained 483 points from the day's low, with HDFC Bank, ITC and Bharti Airtel contributing 217 points to the BSE benchmark on Wednesday.

SI Reporter New Delhi

8:19 AM

Money market :: Here's a look at bond yields across countries

8:16 AM

Dollar firm on growth worries, fragile yen draws warning

>> The dollar perched near a six-month peak on Wednesday as jitters over China and global growth dragged on risk sentiment, while the yen was close to a 10-month low, drawing the strongest warning since mid-August from Japan's top currency diplomat.

>> The yen was at 147.66 per dollar in early Asian hours, just shy of 147.8 per dollar, the lowest since Nov. 4 it touched overnight.

>> The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to keep a wary eye on signs of an intervention.

>> Against a basket of currencies, the dollar rose 0.067% to 104.80, not far off the six-month high of 104.90 it touched overnight. Economic data from China and Europe on Tuesday fanned some fears of slowing global growth, pushing investors to scramble for the dollar.

Source: Reuters

8:13 AM

China's exports, imports likely contracted more slowly in August

>> China's exports likely contracted at a slower pace in August, a Reuters poll showed on Tuesday, highlighting that manufacturers remain under pressure after outbound shipments recorded their worst performance since February 2020 last month.

>> Data for August are expected to show a 9.2% fall in exports from a year earlier, following a drop of 14.5% in July, according to the median forecast of 33 economists in the poll.

>> Barclays and Nomura were the most bearish, forecasting that overseas demand for Chinese goods worsened last month and are predicting a 15% drop in exports, while Standard Chartered forecast exports fell by just 4%.

Source: Reuters

8:09 AM

ALERT :: Australia’s economy grows 2.1% year on year in second quarter

>> Australia’s gross domestic product expanded 2.1% in the second quarter from a year ago, higher than the 1.8% expected by economists polled by Reuters.

>> However the figure was lower than the 2.3% year-on-year growth recorded in the first quarter.

>> On a quarter-on-quarter basis, GDP rose 0.4%, marking the seventh consecutive quarterly rise.

Source: Reuters

8:06 AM

Oil goes past $90 a barrel after Saudi Arabia, Russia prolong cuts

The countries' moves likely will increase the cost for motorists at gasoline pumps and put new pressure on Saudi Arabia's relationship with the United States. President Joe Biden last year warned the kingdom there would be unspecified “consequences” for partnering with Russia on cuts as Moscow wages war on Ukraine READ MORE