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The trend is aligned with the weakness seen across global markets as a stronger dollar, a spike in crude price over supply concerns and economic uncertainty refuel risk-off sentiment
The trend is aligned with the weakness seen across global markets as a stronger dollar, a spike in crude price over supply concerns and economic uncertainty refuel risk-off sentiment
In its preliminary results announcement for the quarter, the company said it expects revenue of about $132 million, compared with $168 million last year. Four analysts polled by LSEG expect BlackBerry to report sales of $156.9 million.
Federal Reserve Bank of Boston President Susan Collins said while there are signs of progress in cooling inflation, the central bank should proceed carefully when it comes to its next monetary policy steps.
Against a basket of currencies, the dollar was last 0.05% higher at 104.91, holding on to some of its gains from the previous session after scaling a six-month peak on news that the U.S. services sector unexpectedly gained steam in August.
Tata Consumer Products, Divis Laboratories, Bharti Airtel, Cipla and HDFC Bank were among the top gainers on the Nifty, while losers included Axis Bank, Hindalco Industries, Tata Steel, ICICI Bank and NTPC
Domestic benchmarks mirrored the weak trend seen across their global counterparts, with a surge in Brent crude prices acting as the major dampener.
Brent crude futures rose by 17 cents, or 0.2%, to $90.21 a barrel at 00:08 GMT. It crossed the $90 mark for the first time since November on Tuesday in the sixth straight day of gains.
Federal Reserve Governor Christopher Waller said on Tuesday the latest round of economic data gives the U.S. central bank space to see if it needs to raise interest rates again and that he saw nothing that would force a move toward boosting the cost of short-term borrowing again.
Traders’ bets that the Fed will leave rates unchanged at its September policy meeting stood at 93%, while they priced in a roughly 54% chance of a pause in November, the CME Group’s FedWatch tool showed.