Business news live: Asian markets open | Sensex update

Business news live: Asian markets open | Sensex update


Today’s agenda:

Investment activity in India rebounded in the September ending quarter, but growth was not spread across all sectors or states. Gujarat secured the highest amount of fresh investment commitments among the top 5 states, which included Maharashtra, Telangana, Karnataka and Odisha. Manufacturing led the pack among industries, and irrigation and infrastructure lagged.

Coal crisis hit the country’s Aluminium sector as the industry demanded immediate resumption of supplies from Coal India for its survival.

In other developments, the U.S. Federal Reserve released minutes of its September 21-22 meeting, which revealed the Fed plans to scale back its bond buying programme next month. In China, the Evergrande crisis sapped investors appetite for Chinese dollar bond. – John Xavier

Follow our live blog for more on business, economy and markets

9:30 A.M.

Asian markets open | Sensex update

India’s benchmark equity indices opened at fresh record high. At 9:17 IST, the benchmark index rose 388.11 points to 61125.16 and the Nifty surged 117.70 points or 0.65% to 18279.50.

Most Asian markets rose as investors anticipated that inflation will push rate hikes around the world.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% while Japan’s Nikkei surged 1%. Overnight on Wall Street the S&P 500 rose 0.3% and in early Asia trade S&P 500 futures were also up 0.3%.

The minutes from last month’s Federal Reserve meeting showed policymakers’ growing concern about inflation and a general agreement to start tapering asset purchases soon.

 

—-  Edited by John Xavier

 

(With inputs from Reuters, PTI and other news agencies.)



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *