Thursday, 24 November 2016

Sensex slumps over 200 pts, Bank Nifty falls; rupee at new low

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Infosys, TCS, Bajaj Auto, Wipro and Asian Paints are top gainers while Tata Motors, NTPC, ICICI Bank, Sun Pharma and Reliance are losers in the Sensex.

European stocks opened higher morning as economic data give more emphasis to a US rate hike and market liquidity is scarce due to the Thanks giving holiday. The pan-European Stoxx 600 started Thursday's trading 0.3 percent higher. Data released Wednesday showed new manufacturing orders and consumer sentiment increasing in the US in the month of October, giving further reasons for a rate hike next month, when the Federal Reserve meets. The British-Australian Rio Tinto announced Thursday plans to raise its cash flow by USD 5 billion over the next five years. The firm wants to expand on iron ore, copper and bauxite.

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