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Stock Market Live: After closing at four-week highs in the previous session, benchmark indices Sensex and Nifty could start in green on Thursday with tepid gains. At 7:30 am, the Gift Nifty futures were trading 27 points higher at 19,759.
Producer prices in the US fell by 0.5 per cent in October marking the biggest monthly drop since April 2020. Retail sales dipped 0.1 per cent to mark the first such decline in 7 months, making the case for the Fed to wrap its rate hiking cycle. The Dow Jones rose 0.47 per cent, the S&P 500 gained 0.16 per cent and the Nasdaq Composite added 0.07 per cent. However in Asia, most indices held slight losses. Nikkei, Hang Seng, S&P/ASX 200 dipped 0.2-0.3 per cent. Kospi was the sole gainer with a 0.14 per cent gain.
Back home, TCS will be in focus on fixing November 25 as the record date for its Rs 17,000-crore buyback. It will buy back up to nearly 41 million shares (1.12 per cent of total equity) for Rs 4,150 apiece, which is at a 22 per cent premium over the last closing price. The RBI has barred Bajaj Finance from lending under two products — Insta EMI and eCOM — citing violations of certain provisions of the digital lending guidelines.
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