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Stocks Fall Despite Wall St Stimulus Hope; Dollar Dips

WorldNews Thursday, 24 September 2020
Stocks Fall Despite Wall St Stimulus Hope; Dollar DipsNEW YORK: Wall Street rose in a choppy session on Thursday on hopes of more economic stimulus but the gains were not enough to lift an index of stocks across the globe, while the dollar ticked down from two-month highs. The Federal Reserve this week has talked up the importance of more fiscal stimulus amid investor fears of another economic hit from the coronavirus pandemic. Weak labor market data on Thursday underscored that need. Democrats in the U.S. House of Representatives are working on a $2.2...
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Video Credit: Reuters Studio - Published
News video: Wall Street ends lower on stimulus fears

Wall Street ends lower on stimulus fears 01:26

Wall Street's main indexes closed lower on Monday as concerns about new lockdowns in Europe and possible delays in fresh stimulus from Congress raised fears the U.S. economy faces a longer road to recovery than previously hoped for. Fred Katayama reports.

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Equity benchmark indices traded lower during early hours on Thursday on the back of weak global cues after the US Federal Reserve indicated the interest rate could stay close to zero for years. At 10:15 am, the BSE S-P Sensex was down by 141 points or 0.36 per cent at 39,162 while the Nifty 50 lost by 39 points or 0.34 per cent at 11,565. Except for Nifty IT and pharma, all sectoral indices at the National Stock Exchange were in the negative terrain with Nifty private bank losing by 1 per cent and financial service by 0.9 per cent. Among stocks, ICICI Bank dropped by 1.3 per cent to Rs 369.85 per share while HDFC Bank lowered by 1 per cent. The other major losers were Hindalco, Tata Consultancy Services, Bajaj Auto and Tata Motors.However, HCL Technologies moved up by 2 per cent to Rs 811.20 per share and Tech Mahindra by 1.7 per cent. Dr Reddy's, Hero MotoCorp, Grasim and Asian Paints also traded with a positive bias.

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