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Home / Markets / Live Blog /  Sensex up 574 pts, Nifty ends near 17,150; RIL, Maruti shine, Bajaj twins drag

Sensex up 574 pts, Nifty ends near 17,150; RIL, Maruti shine, Bajaj twins drag

Market Closing: Indian indices added around 1% on Wednesday amid positive global trends (Hemant Mishra/Mint)Premium
Market Closing: Indian indices added around 1% on Wednesday amid positive global trends (Hemant Mishra/Mint)

  • Market Closing: Indian indices edged higher on Wednesday, snapping a 5-day losing streak to regain lost ground. Market heavyweights HDFC, Reliance Industries, TCS, Maruti helped the bulls make a comeback.

Indian indices on Wednesday ended their losing streak as they returned to the green after heavyweights HDFC, Reliance, Infosys managed to dig out gains. The mood of Indian investors was upbeat after Wall Street ended on a positive note. Sectorally, IT, auto, energy, oil & gas, and FMCG stocks performed well, while banks and power stocks were muted. Global shares ended mixed as investors evaluated the resilience of the global economic recovery to high inflation, a hawkish Federal Reserve and Covid lockdowns in China. In Asia, shares in Japan and Australia advanced, while that in Hong Kong and Shanghai declined and were flat in South Korea.

20 Apr 2022, 03:43:45 PM IST

Sensex gains 574 pts, Nifty ends above 17,100; IT, auto, energy shine, metals drag

Indian indices recovered on Wednesday, with the help of strong buying support in Reliance, HDFC, TCS, and Maruti stocks amid positive global cues. Benchmarks drew strength from Wall Street, which ended on a positive note on Tuesday, ending Dalal Street's 5-day losing streak.

The Sensex gained 574.35 points, or 1.02%, to close at 57,037.50, while Nifty50 added 177.90 points to end at 17,136.55. IT, telecom, auto, and energy stocks made solid gains, while weakness was seen in metals and banking stocks.

On the 30-stock index, the most gains were made by Maruti, Ultratech Cement, Reliance, and Asian Paints, among others, while Bajaj Twins, ICICI Bank, and ITC were among the biggest losers.

On Nifty50, BPCL, Tata Motors, and Shree Cements made the most gains, while Bajaj twins, ICICI Bank, and JSW Steel were among the biggest laggards.

Sensex at close
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Sensex at close
20 Apr 2022, 03:26:39 PM IST

Muthoottu Mini Financiers‘ NCD issue opens today

Muthoottu Mini Financiers Limited, which is involved in the gold loan business, has announced the issue of secured, redeemable, non-convertible debentures of the face value of 1,000 each at par, aggregating up to 250 crores. The issue opened today and will close on 17 May.

20 Apr 2022, 03:25:41 PM IST

Anand Rathi sees 25% upside in this cement stock in 3 months. Do you own?

Ramco Cement shares have remained in consolidation phase for near one year as the stock shed more than 15 per cent in last one year. It has remained under sell-off heat in year-to-date time as well. However, in last one month, Ramco Cement share price has given some sharp upside bounce delivering around 9 per cent return to its shareholders in this period. According to Anand Rathi report, the stock is at strong support and one can buy this stock for 3 months target of 997, around 25 per cent higher from its current price of 805 apiece levels.

20 Apr 2022, 02:57:31 PM IST

Alembic gets USFDA nod to market generic drug

Alembic Pharmaceuticals on Wednesday said it has received approval from the US health regulator to market lvabradine tablets, used to treat heart failure, in the American market.

The company has received tentative approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for lvabradine tablets (5 mg and 7.5 mg), Alembic Pharmaceuticals said in a regulatory filing.

20 Apr 2022, 02:44:38 PM IST

Pharma and healthcare stocks that top mutual fund houses bet on in March

Net inflows have been higher in the last four months at lower market levels. In the last few years, every sharp market fall has witnessed higher inflows indicating maturity among retail investors, highlighted brokerage house ICICI Securities in a note on the mutual fund (MF) activity for the previous month.

20 Apr 2022, 02:28:54 PM IST

BSE Metals bleed: Hindustan Zinc, Hindalco lead, Vedanta drags

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20 Apr 2022, 02:18:27 PM IST

BSE Auto index adds 1.5%; Tube Investments of India, Maruti, Tata Motors make gains

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20 Apr 2022, 02:11:44 PM IST

BSE oil & gas surges over 1.5%; Adani Total Gas, Reliance lead

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20 Apr 2022, 02:04:07 PM IST

The merger of IT subsidiaries augurs well for L&T

Three years ago, Larsen and Toubro Ltd (L&T) forked out 10,800 crore for a hostile buyout of Mindtree Ltd. The Bengaluru-based IT services company will be merged with Larsen and Toubro Infotech (LTI), another listed IT services company of the engineering conglomerate, Bloomberg has reported, citing people familiar with the development. Read more

20 Apr 2022, 01:52:59 PM IST

Sensex gains more than 500 points; Reliance, Ultratech Cement, Asian Paints rally

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20 Apr 2022, 01:35:38 PM IST

Vijay Kedia trims stake in portfolio IT stock that tumbled 30% this year

Vijay Kedia portfolio: Despite high volatility in equity markets in January to March 2022 quarter, ace investor Vijay Kedia has done very little change in his portfolio. The marquee investor has kept his shareholding almost at same levels in most of his stocks except Ramco Systems. In this IT stock, Vijay Kedia has cut down his stake from 2.60 per cent to 2.35 per cent. The market magnet had raised his stake in the counter in July to September 2021 quarter when he raised his stake from around 1.80 per cent to 2.60 per cent. In December 2021 quarter, Vijay Kedia had kept his shareholding unchanged in Ramco Systems.

20 Apr 2022, 01:15:56 PM IST

Pharma stock falls 15% this year. Why Motilal Oswal has 'Buy' tag

Gland Pharma has a decent opportunity size for injectable drugs under shortages to drive near term growth. In the medium-term, its launch momentum, filing pace, upside from recently launched products in the US, and the new Enoxaparin contract is expected to drive 16% sales CAGR in its core markets over FY22-24, as per Motilal Oswal.

20 Apr 2022, 01:01:46 PM IST

Mudrex becomes world’s largest crypto index investing platform

Global crypto asset management platform, Mudrex, witnessed a massive 2400% surge in its platform’s user base in the first quarter of 2022, becoming the world's largest crypto index investing platform, according to a press release.

20 Apr 2022, 12:47:21 PM IST

Sectoral indices: Nifty Auto, IT, FMCG make solid gains

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20 Apr 2022, 12:35:49 PM IST

Oil rebounds as traders weigh China’s demand, lower stockpiler

Oil rebounded as industrial activity in virus-hit China picked up, and a report pointed to a decline in U.S. crude stockpiles.

West Texas Intermediate rose toward $104 a barrel after losing more than 5% on Tuesday. In China’s leading commercial hub of Shanghai, carmakers to supermarkets are now starting to resume their operations as the key city seeks to recover from the economic toll of an unprecedented lockdown.

The industry-funded American Petroleum Institute reported that U.S. crude stockpiles declined by about 4.5 million barrels last week, according to people familiar with the data. If confirmed by government figures due Wednesday that would be the biggest drop in nationwide holdings since early February.

20 Apr 2022, 12:27:57 PM IST

L&T Infotech's shares fall as Q4 results disappoint

Larsen & Toubro Infotech Ltd’s (LTI) shares fell about 5% on Wednesday’s morning trade. This is on a day when the benchmark Nifty50 index was nearly 1% up.

20 Apr 2022, 12:18:16 PM IST

Broad market indices: Nifty50 trades almost 1% higher

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20 Apr 2022, 12:08:28 PM IST

LME copper edges higher as stimulus hopes offset firm dollar, growth woes

London copper prices edged higher on Wednesday, as hopes of more stimulus from top metals consumer China eclipsed pressure from a stronger dollar and global growth worries.

Benchmark three-month copper on the London Metal Exchange (LME) was up 0.1% at $10,319 a tonne, as of 0510 GMT, after hitting a two-week peak on Tuesday.

The most-active May copper contract on the Shanghai Futures Exchange ended the morning session down 0.7% at 74,620 yuan ($11,664.11).

China central bank urged financial institutions to step up support for the contact-intensive service sector and small firms affected by the COVID-19 pandemic, it said in a statement on Wednesday.

20 Apr 2022, 12:02:02 PM IST

Tokyo stocks end higher on US gains, cheap yen

Tokyo stocks closed higher on Wednesday, helped by a cheaper yen and gains on Wall Street, where investors were encouraged by better-than-expected US housing starts data and solid corporate earnings.

The benchmark Nikkei 225 index added 0.86 percent, or 232.76 points, to 27,217.85, while the broader Topix index rose 1.03 percent, or 19.45 points, to 1,915.15.

20 Apr 2022, 11:54:25 AM IST

YES Securities on ACC Limited

NSR rescued margin; input cost still a headwind

ACC’s higher capacity utilization rate (+90%) due to slower capacity addition than industry resulted in stagnant volumes and market/capacity share loss. Recently, ACC lined up capacity addition that would provide production headroom to grow its volume from CY22E onwards. Therefore, we expect a volume growth of 8% in both CY22/23E. Due to the elevated fuel & diesel price, we have lowered our EBITDA/PAT estimate by 19/26% for CY22E while kept unchanged for CY23E envisaging cost normalization. Additionally, ACC also eyeing to improve its operating efficiency by scaling up WHRS capacity to 75 MW. At CMP, stock is trading at 11/8x of EV/EBITDA on CY22/23E. Due to recent steep correction and TP of Rs2,400 at 10x EV/EBITDA on the CY23E estimate, we recommend ‘BUY’ (earlier ADD).

Recommendation: Buy

CMP: 2,057

Target price: 2,400

Potential return: +17%

20 Apr 2022, 11:45:15 AM IST

Stocks, Europe equity futures rise as Dollar dips

Stocks rose Wednesday and a selloff in Treasuries paused as investors evaluated the resilience of the global economic recovery to high inflation, a hawkish Federal Reserve and Covid lockdowns in China.

European equity futures advanced, while Japan bolstered an Asia-Pacific share gauge. But China dropped after its banks held lending rates, disappointing investors looking for a cut to support an economy sapped by Covid curbs.

Nasdaq 100 contracts retreated amid an after-hours slump in Netflix Inc. on poor subscriber numbers. That tempered some of the optimism from a rally in the S&P 500 index ahead of the streaming giant’s results.

Treasuries were steady but remain under longer term pressure from hardening expectations of sharp Federal Reserve policy tightening. Chicago Fed President Charles Evans said interest rates will probably exceed the neutral level in the campaign to damp price pressures.

The dollar declined and the yen revived after a prolonged slump. The yen remains the weakest performer in the Group of 10 this year on the policy contrast with the U.S.: the Bank of Japan offered to buy an unlimited amount of bonds to contain yields, underscoring its desire for loose monetary settings.

20 Apr 2022, 11:37:19 AM IST

Salasar Techno Engineering Ltd. up by 4% in a neutral market on stock split plan

Shares of Salasar Techno Engineering Ltd. were up 4 per cent at 269 on the BSE in Tuesday's intra-day trade, in an otherwise neutral and volatile market, the stock has hit the high of 279 in its early trade on Tuesday, after the company said the board will meet on April 30, 2022 to consider stock split proposal.

20 Apr 2022, 11:30:14 AM IST

ACC's cost optimization focus saves Q1 but headwinds ahead

Large-cap cement manufacturer ACC Ltd.'s weak March quarter results (Q1CY22) have set the tone for the industry's performance. ACC follows a January to December accounting year.

20 Apr 2022, 11:24:02 AM IST

RIL shares surge to near all-time high. Key factors driving the stock

Reliance Industries shares have surged to near all-time high as Dalal Street is buzzing with strong Q4 numbers of Reliance Petrochemicals on improving GRM (gross refining margin) in recently ended March 2022 quarter. Extending its Tuesday rally on second successive session, RIL share price today opened with an upside gap of around 17 per share at 2657.10 apiece levels on NSE and went on to climb to its intraday high of 2731 levels, around 20 away from its all-time high of 2751.35 per share levels.

20 Apr 2022, 11:14:39 AM IST

Energy, auto stocks drive Indian shares higher

Energy and auto shares lifted India's blue-chip stock indexes on Wednesday, after a sharp sell-off in the previous session, while investors awaited key corporate earnings amid concerns about runaway inflation.

The NSE Nifty 50 index was up 0.94% at 17,118.55, as of 0449 GMT, while the S&P BSE Sensex rose 0.9% to 56,966.71.

Both the indexes fell sharply on Tuesday after Russia said it was starting a new stage of what it calls its special military operation in Ukraine.

HDFC Ltd rose 1.6% on Wednesday. The lender will sell 10% stake in its unit HDFC Capital Advisors to a unit of Abu Dhabi Investment Authority.

20 Apr 2022, 11:08:34 AM IST

Asian shares mixed after tech-led rally on Wall Street

Stocks were mixed in Asia on Wednesday after a rally on Wall Street led by technology stocks.

Share benchmarks rose in Tokyo, Hong Kong and Sydney but fell in Shanghai. U.S. futures were lower and oil prices pushed higher.

Japan reported its trade deficit persisted in March as imports surged 31% thanks to soaring oil prices and a weakening yen. The deficit of 412 billion yen ($3.2 billion) for March was lower than the previous month's 670 billion yen but was quadruple analysts' estimates and a reversal from a surplus of 615 billion yen in March 2021.

Data for the fiscal year that ended in March showed exports jumped almost 24% but were outpaced by imports, which climbed 33%. The fiscal year deficit of 5.4 trillion yen (nearly $42 billion) was the highest in seven years.

20 Apr 2022, 11:02:20 AM IST

4 stocks with sound management, strong fundamentals, high ROE. Worth a look?

Here’s the list of top 4 stocks, as determined by some of the company's most critical qualitative attributes.

20 Apr 2022, 10:49:23 AM IST

Rakesh Jhunjhunwala portfolio: Big Bull trims stake in this Tata stock in Q4FY22

Rakesh Jhunjhunwala portfolio: January to March 2022 quarter will be remembered for highly volatile sessions caused by Russia-Ukraine crisis and soaring global inflation concerns. In recently ended March 2022 quarter, even ace investors had to rejig their portfolio. Popularly known as 'Warren Buffett of India' Rakesh Jhunjhunwala too has done a lot of changes in his portfolio. The latest one is his partial profit-booking in Tata Motors DVR during Q4FY22. In this period, Big Bull has trimmed his stake from 3.93 per cent to 2.95 per cent in this Tata group stock.

20 Apr 2022, 10:38:31 AM IST

Global Longlife Hospital IPO

Subscription date, price, other details in 10 points

20 Apr 2022, 10:24:00 AM IST

Dolly Khanna trims stake in multibagger textile stock in Q4FY22

Dolly Khanna portfolio: Buying a good business at an attractive valuations is important but booking profit at right time is also important. Chennai-based ace investor Dolly Khanna has probably done the same after booking partial profit in this shares, which is one of the multibagger stocks in 2021. The marquee investor has booked partial profit in this multibagger textile stock trimming her stake in the company from 1.55 per cent to 1.42 per cent in recently ended March 2022 quarter.

20 Apr 2022, 10:15:02 AM IST

HDFC Ltd to sell 10% equity in HDFC Capital to Abu Dhabi Investment Authority

HDFC Ltd has entered into binding agreements to sell 10% of share capital of HDFC Capital Advisors Ltd (HDFC Capital) to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about 184 crore. ADIA is also the primary investor in the alternative investment funds managed by HDFC Capital.

20 Apr 2022, 10:08:44 AM IST

Top Sensex losers in early trade: Black Box, Centrum Capital, GAIL

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20 Apr 2022, 09:54:35 AM IST

Rupee surges 19 paise to 76.31 against US dollar in early trade

The rupee appreciated 19 paise to 76.31 against the US dollar in opening trade on Wednesday, tracking positive trends among Asian and emerging market currencies.

At the interbank foreign exchange, the rupee opened at 76.41 against the American dollar, then gained further ground to quote at 76.31, registering a rise of 19 paise from the last close.

On Tuesday, the rupee depreciated by 21 paise to close at 76.50 against the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.32 per cent lower at 100.64.

20 Apr 2022, 09:46:12 AM IST

Top Sensex gainers in early trade: OnMobile Global, Gujarat Ambuja Exports, Vinati Organics gain

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20 Apr 2022, 09:35:29 AM IST

Indices in early trade: BSE Sensex trading 378 points higher, all tj-

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20 Apr 2022, 09:29:19 AM IST

Top Sensex volume toppers: HDFC Bank, Reliance, Infosys, Maruti, HDFC lead

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20 Apr 2022, 09:24:55 AM IST

Nifty50 at open: Trades above 17,000; Eicher Motors, Coal India, Tata Motors top gainers

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20 Apr 2022, 09:23:24 AM IST

Sensex at open: Trades 407 points higher; Maruti, Reliance rally, Kotak Bank drags

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20 Apr 2022, 09:13:15 AM IST

Nifty50 at open: Trades above 17,000 level; JSW Steel top gainer

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20 Apr 2022, 09:11:45 AM IST

Sensex at pre-open: IndusInd Bank, Titan, Ultratech Cement top gainers

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20 Apr 2022, 08:51:50 AM IST

Stock market fraud: Zerodha alerts investors of this scam, suggests 3 ways to avoid being duped

Noting ‘pump and dumps’ to be one of the oldest scams in the stock market, Zerodha recently stated that though, some cases come under the scanner, most go unnoticed. Further, educating investors about how the scam is carried out, the online stockbroking agency also showed them how to remain vigilant of such frauds to avoid being duped. Read here to know more:

20 Apr 2022, 08:49:32 AM IST

Gold hits over one-week low as firm Treasury yields, dollar dim appeal

Gold prices hit a more than one-week low on Wednesday, as a firmer U.S. dollar and Treasury yields continued to weigh on bullion demand. Spot gold was down 0.3% at $1,944.77 per ounce, as of 0206 GMT, after hitting its lowest since April 11. U.S. gold futures fell 0.6% to $1,947.70. On Tuesday, prices fell up to 1.8% as a stronger dollar and rising Treasury yields overshadowed inflows into bullion.

20 Apr 2022, 08:45:58 AM IST

Petrol, diesel prices today: Fuel rates remain unchanged for two weeks

The prices of petrol and diesel have remained unchanged for the last two weeks on Wednesday, 20 April. Petrol and diesel prices were last hiked by 80 paise a litre each on 6 April,Wednesday, taking the total increase in rates in 16 days to 10 per litre.

20 Apr 2022, 08:30:02 AM IST

Multibagger stock's share split date today. Scrip hits 52-week high on ex-date

Stock market today: Diligent Industries shares are one of the multibagger stocks in 2021. In latest exchange communication, the company management has informed Indian exchanges about the decision on subdivision of its stocks in 1:5. It also informed that the record date for ascertaining the eligibility of shareholders entitled for corporate action is 20th April 2022 i.e. today. However, market investors have already started reacting to the corporate action of the company. The multibagger stock has been hitting upper circuit for the last two sessions and on both sessions, it has climbed to its new 52-week high.

20 Apr 2022, 08:21:07 AM IST

Day trading guide for Wednesday

8 stocks to buy or sell today — 20th April

20 Apr 2022, 08:10:50 AM IST

Oil prices tumble 5% on global commodities selloff after IMF lowers growth forecasts

Crude oil prices fell 5 per cent Tuesday amid a selloff in global commodity markets after the International Monetary Fund slashed its world growth forecasts for 2022 and 2023, citing runaway fuel and food costs and other challenges from the Russia-Ukraine conflict.

Brent, the London-traded global benchmark for crude, settled down $5.91, or 5.2 per cent, at $107.25 per barrel. It plunged more than $6 earlier, hitting a session low of $106.81.

New York-traded West Texas Intermediate, or WTI, the benchmark for US crude, settled down $5.65, or 5.2 per cent, at $102.56. The intraday low for WTI was $101.55.

Both crude benchmarks had gained about 15% over four previous days of trading as oil markets rallied on expectations of a further supply squeeze from Western sanctions imposed on Russia.

20 Apr 2022, 08:04:09 AM IST

Stocks wobble as China lockdowns drag; yen wallows

Oil and stock markets were under pressure on Wednesday on worries about the fallout from China's pandemic lockdowns, while the yen slightly extended its record losing streak as traders put Japan's ultra-easy monetary policy settings to the test.

The Chinese yuan hit its lowest since October after the central bank promised support for the services sector, but was volatile as China also surprised and disappointed equities investors by not cutting lending rates.

MSCI's broadest index of Asia-Pacific shares outside Japan was steady as modest losses in Hong Kong and Shanghai offset gains in Sydney. Japan's Nikkei trimmed early gains to stand 0.5% higher by mid morning.

S&P 500 futures fell 0.4% and Nasdaq futures dropped 0.9%.

20 Apr 2022, 07:58:04 AM IST

Japan posts trade gap far wider than forecasts as China exports slow, energy imports soar

Japan recorded a trade deficit in March that was more than four times wider than market forecasts, as China-bound exports slowed sharply while soaring energy prices raised the cost of imports, adding to economic challenges brought by conflict in Ukraine.

Outgoing trade was restrained by a decline in car exports and a slowdown in the growth of shipments to Japan's biggest trading partner China, data showed, indicating continuing risk from global supply constraints and the coronavirus pandemic.

The persistent trade deficit highlights the world's third-largest economy's vulnerability to soaring import costs.

20 Apr 2022, 07:51:27 AM IST

Tokyo stocks open higher on cheap yen, US gains

Tokyo stocks opened higher on Wednesday, helped by a cheaper yen and gains on Wall Street where investors were encouraged by better-than-expected US housing starts data and solid corporate earnings.

The benchmark Nikkei 225 index was up 0.76 percent, or 204.38 points, at 27,189.47 in early trade, while the broader Topix index was up 0.83 percent, or 15.69 points, at 1,911.39.

The dollar firmed to 129.23 yen from 128.89 yen in New York late Tuesday, extending the yen's recent falls driven by higher US Treasury yields.

20 Apr 2022, 07:44:16 AM IST

Australian shares rise on tech and healthcare boost; Ramsay soars on $14.8 bn bid

Australian shares rose on Wednesday, led by gains in healthcare and technology stocks on a buoyant U.S. dollar and overnight Wall Street gains, while Ramsay Healthcare posted a record jump on getting a buyout bid from a KKR & Co-led consortium.

The S&P/ASX 200 index rose 0.8% to 7,624.80 by 0047 GMT, extending gains to a fourth consecutive session. The benchmark closed 0.6% higher on Tuesday.

Export reliant healthcare stocks led gains among sub-indices, climbing 3.1% as the U.S. dollar rose.

Australia's largest private hospital operator, Ramsay Health Care, soared as much as 29.8% to hit a record intraday percentage gain, after receiving a A$20.05 billion ($14.83 billion) takeover bid from a consortium led by KKR.

20 Apr 2022, 07:39:42 AM IST

Netflix rocked by subscriber loss, may offer cheaper ad-supported plans

Netflix Inc said inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted deeper losses ahead, marking an abrupt shift in fortune for a streaming company that thrived during the pandemic.

The company said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers. Suspending service in Russia after the Ukraine invasion took a toll, resulting in the loss of 700,000 members.

Wall Street sent Netflix's stock tumbling 26% after the bell on Tuesday and erased about $40 billion of its stock market value. Since it warned in January of weak subscriber growth, the company has lost nearly half of its value.

20 Apr 2022, 07:31:34 AM IST

Earnings boost Wall Street while growth fears sink oil

U.S. stocks surged Tuesday on the back of stronger than expected corporate earnings, but bleak forecasts on global economic growth pushed up bond yields and drove down oil.

The tech-heavy Nasdaq led the way for gains in U.S. markets, as many corporations began to report stronger than expected earnings. Those reports helped investors shake off warnings from global forecasters of a slowdown in economic growth, which weighed on other sectors like bonds and oil.

Of the 49 companies in the S&P 500 that have reported quarterly earnings as of Tuesday, nearly 80% have topped profit estimates, per Refinitiv data.

The Dow Jones Industrial Average rose 1.45%, the S&P 500 gained 1.61% and the Nasdaq Composite jumped 2.15%.

The MSCI world equity index, which tracks shares in 45 nations, was up 0.81%.

The surge came even as global economic bodies began to air warnings on economic growth. Both the World Bank and the International Monetary Fund slashed their global economic outlooks for 2022 by nearly a full percentage point, citing turmoil emanating from Russia's invasion of Ukraine and the pitched battle against inflation worldwide.

The current battle by central banks worldwide to curb inflation continued to boost bond markets, where U.S. Treasury yields continued to move upward.

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