Fed s Powell Pledges Low Rates Until Inflation Exceeds 2% ibtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com Daily Mail and Mail on Sunday newspapers.
Read more about Jerome Powell signals Fed to keep buying bonds even as outlook improves on Business Standard. The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved, he said
Benchmarks snap 5-day losing streak in choppy trade; ONGC spurts 5 5 pc indiatoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatoday.in Daily Mail and Mail on Sunday newspapers.
The BSE Sensex ended almost flat, while the 50-unit Nifty ended with minor gains after a volatile session on Tuesday. Metal and realty shares advanced while banks shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, rose 7.09 points or 0.01% to 49,751.41. The Nifty 50 index added 32.10 points or 0.22% to 14,707.80.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.98%. The S&P BSE Small-Cap index gained 0.74%.
Buyers outpaced sellers. On the BSE, 1681 shares rose and 1239 shares fell. A total of 161 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 11,17,25,784 with 24,74,350 deaths. India reported 1,47,306 active cases of COVID-19 infection and 1,56,463 deaths while 1,07,12,665 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
By Devik Jain and Shreyashi Sanyal (Reuters) - The Nasdaq index fell in volatile trading on Tuesday as investors sold off mega-cap growth stocks on valuation concerns, although Federal Reserve Chairman Jerome Powell s comments on the economy helped ease some selling pressure. In his testimony to the Senate Banking Committee, Powell pushed back on suggestions that the U.S. central bank s support for the economy risked inflating a dangerous asset bubble. Fears of a potential spike in inflation from a raft of stimulus measures and a rise in bond yields have triggered a selloff in the technology-related stocks, which were at the heart of a stunning rally that drove major indexes to record levels this year.