Indian shares tracked broader Asia lower on Thursday, as global investors fretted over a setback to U.S. stimulus talks, while Dr.Reddy's Laboratories hit a five-week low following a report that a data breach prompted the drugmaker to shut key plants.
The NSE Nifty 50 index fell 0.44% to 11,885.50 by 10:27 am, while the S&P BSE Sensex was down 0.4% at 40,542.74.
Investor sentiment was dented globally as talks over a U.S. coronavirus aid bill faced a setback after President Donald Trump accused Democrats of being unwilling to craft an acceptable compromise on stimulus, following reports of progress earlier in the day.
Meanwhile, a Reuters poll signalled that a recent stimulus to boost demand by $10 billion in India, one of the hardest-hit nations by the pandemic, would not be enough to significantly lift business activity, with economists forecasting the economy was set for a near double-digit contraction this fiscal year.
The Reserve Bank of India, which has already rolled out several measures to shore up liquidity in the pandemic-ravaged market, will conduct on Thursday its first-ever open market operation in state development loans.
04 Dec 2020 04:48 PM
India's benchmark stock index retreated to close above 45,000 points for the first time ever as the RBI upgraded its GDP target for the current fiscal year and kept interest rates steady amid high inflation.
04 Dec 2020 03:57 PM
Indian rupee stayed higher tracking uptick in regional peers
04 Dec 2020 11:51 AM
Indian equities touched record highs after the RBI kept interest rates steady due to high inflation, and retained its accommodative monetary policy stance
04 Dec 2020 11:35 AM
Yuan rose to a fresh 2 1/2-year high against a weakening dollar, despite fresh signs of tension between the US and Chinese economy.
04 Dec 2020 11:01 AM
Gold prices strengthened and are on track for their first weekly gain in a month, as growing optimism over a U.S. fiscal stimulus deal pressured the dollar and boosted Gold appeal as an inflation hedge.
04 Dec 2020 10:44 AM
Indian rupee was trading at 73.73/73.74 compared to 73.90/ 73.91 in the previous session, as the Dollar Index continued to decline in anticipation of the U.S. monthly non-farm payrolls report.