The News International Team
In the US, stocks rose, rebounding after the S&P 500’s largest decline in a month, with social-media shares helping lift the technology sector and as investors pondered when the Federal Reserve would start hiking interest rates.
Marking the 13th anniversary of the September 11 US attacks, US president Barack Obama in an address to the nation, said they will lead ‘broad coalition’ to roll back and destroy ISIL and that they will expand airstrikes against Islamic state.
And in Europe, shares closed mixed, having fluctuated during the session on concerns over when the US Federal Reserve might start to raise key interest rates and the upcoming independence vote in Scotland.
In the currency space, the dollar hit a six-year high against the yen. Meanwhile, the euro continued to trade below 1.30 to the dollar.
In commodities, Brent crude slipped to USD 98 per barrel, to a 17-month low on rising supply and tepid demand and as OPEC lowered projected demand for its crude.
From precious metals space, gold traded bear to its lowest in seven months at just over USD 1240 an ounce, pulled down by fears that encouraging economic data could prompt the US Federal Reserve to raise interest rates sooner than expected.
Back home, profit booking continued on Dalal Street with Sensex shedding over 200 points and Nifty falling below 8,100. The rupee also tumbled to its lowest level in a month. ( Read more )
The government’s divestment drive this fiscal is set to get off to a flying start as the cabinet committee on economic affairs has waved the green flag to sell stake in Coal India , ONGC and NHPC . These 3 issues are set to garner over Rs 45,700 crore at current market rates. Retail investors are also set to get a 20 percent reservation in this stake sale.
In other news, the US drug regulator has been conducting a surprise audits at Sun Pharma ‘s Halol facility in Gujarat and the audit that started on Monday is still going on. Sun Pharma had recalled multiple products made in this facility .