Sensex Today | Share Market Live Updates: Finance, Bank drag Sensex below 66000; Bajaj twins shed


18 Oct 2023, 01:04 PM IST
Sensex Today: Cipla, Dr Reddy’s and Sun Pharma rally and keep the Pharma index in green in an otherwise lacklustre trading

18 Oct 2023, 12:51 PM IST
Sensex Today: Hyderabad records 30% YoY growth in property registrations in September 2023: Knight Frank India

As per the latest report from Knight Frank India Hyderabad has recorded registrations of 6,185 residential properties in September 2023, observing a rise of 30% year-on-year (YoY). The total value of properties registered during the month stood at INR 3,378 crore (Cr) which too has increased by 42% YoY indicating a movement towards sale of more expensive homes. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.

Key Highlights:

  • 6,185 residential properties registered in September 2023
  • Registered homes worth INR 3,378 Cr, values up by 42% YoY.
  • 51% of homes registered in September 2023 cost INR 25 – 50 lakh.
  • 71% of registered homes between 1,000 – 2,000 sq ft.
  • Weighted average price during September 2023 has increased by 6.4% YoY.
18 Oct 2023, 12:50 PM IST
Sensex Today Live: SC sets aside NCLAT judgment in Finolex Cable case, issues showcase notice to judges

The Supreme Court (SC) set aside a National Company Law Appellate Tribunal (NCLAT) judgment dated October 13th in the Finolex Cable case, utilizing the special jurisdiction powers granted by Article 142 of the Constitution.

18 Oct 2023, 12:31 PM IST
Sensex Today Live | Share Market Updates: Tata Motors emerges as one of the biggest gainers in today’s session amidst a sluggish market

18 Oct 2023, 12:29 PM IST
Sensex Today Live: Japan’s Nikkei ends flat as China optimism offsets Fed jitters

Japan’s Nikkei share average ended flat on Wednesday as investors weighed better-than-forecast Chinese economic data against the possibility of a more hawkish Federal Reserve.

The Nikkei closed up just 0.01% at 32,042.25 in a volatile session where it fell as much as 0.54%, before rising 0.19% just before closing bell.

The broader Topix ended with a 0.14% gain. (Reuters)

18 Oct 2023, 12:21 PM IST
Sensex Today Live: India extends restrictions on sugar exports until further orders

India extends restrictions on sugar exports beyond October until further orders. Mint on 2 June first reported that the government was unlikely to allow Indian mills to export sugar in 2023-24 (October-September) to ensure domestic supply and keep prices in check due to falling production amid erratic monsoon.

18 Oct 2023, 12:15 PM IST
Sensex Today Live | Share Market Updates: MNCs sent tax notices over expat employees’ allowances from foreign parent companies

Multinational corporations (MNCs) operating in India are facing tax demands from goods and services tax (GST) authorities, affecting approximately 1,000 foreign subsidiaries, Business Standard reported quoting sources. The tax demands, issued in recent weeks, pertain to an 18 percent tax on salaries and allowances paid to foreign expats by their overseas parent companies, it added.

The demands, ranging from 1 crore to 150 crore, cover the period between FY18 and FY22 for payments by foreign parent companies to expats working in Indian subsidiaries of MNCs, sources told the paper. (Read More)

18 Oct 2023, 12:02 PM IST
Sensex Noon  Update: Sensex and Nifty 0.6% as Bank and Finance stocks drag the markets; Bajaj Finance and Bajaj Finserv lag, while Sun Pharma shine

18 Oct 2023, 11:49 AM IST
Sensex Today LIve: Gold Climbs to Four-Week High as Mideast Conflict Intensifies

Gold jumped to the highest level in four weeks as the intensifying conflict in the Middle East bolstered haven demand, with hopes for a diplomatic resolution deteriorating after a deadly explosion in Gaza.

US President Joe Biden’s visit to Israel and Jordan scheduled for Wednesday began to unravel even before he left the ground, after the explosion at a Gaza hospital left hundreds dead and Arab leaders pulled out of a meeting planned for the trip.

The threat of escalation continues to provide support for bullion, which has gained about 6% since Hamas’ surprise attack on Israel earlier this month. Previously, the metal was trading near a seven-month low, with a steep selloff in Treasuries weighing heavily on the non-yielding asset. (Bloomberg)

18 Oct 2023, 11:42 AM IST
Sensex Today LIve: Orient Cement shares rally 14.5% on report CK Birla approached Gautam Adani for stake sale

Orient Cement experienced a notable surge of 14.5% in its shares during early trading on Wednesday, hitting a new 52-week high of 214.8 per share. This sharp rise was reportedly triggered by news indicating that CK Birla had approached Gautam Adani to sell his promoter stake in the company.

According to The Economic Times, CK Birla reached out to Gautam Adani after rejecting initial offers from other domestic players that did not meet his valuation expectations. (Read More)

18 Oct 2023, 11:27 AM IST
Sensex Today Live | Share Market Updates: Adani-Hindenburg Case: Sebi requests OCCRP for documents, refused

The Securities and Exchange Board of India (Sebi) has approached the Organized Crime and Corruption Reporting Project (OCCRP) for “key documents,” as per an Economic Times report quoting sources. The request comes as the market regulator is facing challenges in gathering information for its investigation into the Adani-Hindenburg matter, it added.

The documents requested are ones that the OCCRP had previously referenced n a report on the Ahmedabad-based conglomerate. However, OCCRP has declined to provide the documents to Sebi, the report added. (Read More)

18 Oct 2023, 11:24 AM IST
Sensex Today Live: Akasa Air is up against formidable competition on its international routes

Akasa Air confirmed to its staff that it has received rights to fly to Saudi Arabia, Kuwait And Qatar. The airline had earlier said that it has been granted approvals to fly internationally with the “designated carrier” tag.

This will be Akasa Air, the first and only carrier to take advantage of the 0/20 rule to start International operations within two years of launching operations. The airline has had a disastrous outing in August with cancellations and bad press amidst the pilots leaving the airline. As it turns the page and plans for the international launch, it will be pitted against formidable players and omnipresent IndiGo on its routes to the three countries where it has received rights to fly. Within the three countries, the airline will look at Doha, Kuwait City, Jeddah, Riyadh and Medina. (Read More)

18 Oct 2023, 11:07 AM IST
Sensex Today Live | Share Market Updates: HDFC Bank and Axis Bank drag the Nifty Bank index as the stocks shed around a per cent each

18 Oct 2023, 10:56 AM IST
Sensex Today: JM Financial views on ICICI Prudential Life Insurance: Healthy APE growth (ex-ICICI bank); VNB margins key monitorable

Akshay Jain of JM Financial Institution recommends on ICICI Prudential Life Insurance: Healthy APE growth (ex-ICICI bank); VNB margins key monitorable

BUY INR 665 

In 2QFY24, IPRU reported APE of INR 20.6bn registering a growth of 3.2% YoY lower than 18% YoY growth for private peers. However, individual APE growth was much higher at +13% YoY ex-ICICI Bank channel. Management continues to be optimistic on FY24E APE growth given a) non-ICICI bank channels exhibiting strong growth trends, b) limited impact of tax changes on APE growth and c) degrowth of ICICI bank channel played out. We have built in APE growth of c.12% for FY24E followed by an uptick in FY25E. VNB margins moderated to 28.0% (-200bps QoQ) with moderation in higher yielding non-linked segment, and increasing proportion of lower yielding ULIPs segment in overall APE mix. Management guided that their focus will be more on growth in VNB rather than margins and hence they will focus more on overall APE growth rather than product mix. We expect key parameters to change in favour of ICICI Pru Life – a) comeback of APE growth, b) balanced product mix with NBMs stabilised at higher levels, and c) non-ICICI Bank channels gaining dominance, which, in turn, should help ICICI Pru Life to rerate upwards. IPru Life is still trading at discount to peers at 1.6x FY25E EV, and we expect rerating to continue, going ahead. We value ICICI Pru Life at 2.0x FY25E EV to arrive at our TP of INR 665. Maintain BUY.

18 Oct 2023, 10:54 AM IST
Sensex Today Live: L&T Technology Services shares fall 4 pc as company cuts revenue guidance for FY24

Shares of L&T Technology Services declined 4 per cent on Wednesday after the company lowered its revenue growth guidance for the current fiscal.

The stock fell 4 per cent to 4,429.15 on the BSE.

At the NSE, it dropped 3.97 per cent to 4,430.

L&T Technology Services on Tuesday posted a 5 per cent increase in September quarter net profit at 315.4 crore but lowered its revenue growth guidance for the current fiscal.

The engineering services company had reported a net profit of 300 crore in the year-ago period. (PTI)

18 Oct 2023, 10:36 AM IST
Sensex Today: Syngene share price declines more than 7% as company cuts its growth guidance

Syngene International Ltd witnessed a decline of over 7% in its stock price during Monday’s morning trades. This drop followed the company’s decision to revise down its growth guidance for FY24, reflecting anticipated challenges ahead. Despite the setback, investor confidence had previously driven the company’s share prices up by nearly 40% over the last year. However, the recent adjustment in growth guidance has had an impact on investor sentiments.

According to the revised guidance, the company now expects revenue growth for the full year to be in the mid-teens on a constant currency basis, in contrast to the earlier projection of high-teen growth. (Read More)

18 Oct 2023, 10:33 AM IST
Sensex Today Live: Tata Elxsi stock surges 3.35% after Q2FY24 earnings

Tata Elxsi, the digital technology segment of the Tata Group, experienced a 3.35% increase in its stock price, reaching 7,694.40 apiece during early trade on Wednesday, following the release of its impressive Q2FY24 results.

In the latest financial report, the company’s consolidated net profit rose by 14.8% to 200 crore, a notable increase from 174.3 crore in the corresponding period last year. Moreover, the net profit showed a 5.9% sequential growth. (Read More)

18 Oct 2023, 10:21 AM IST
Sensex Today Live | Share Market Updates: India bond yields rise tracking spike in oil prices, US peers

Indian government bond yields rose on Wednesday, with the benchmark bond yield at the upper end of the near-term trading range, following a jump in crude oil prices and U.S. Treasury yields.

The 10-year benchmark 7.18% 2033 bond yield was at 7.3479% as of 10:00 a.m. IST, after ending at 7.3264% in the previous session.

“Bonds have already adjusted to the recent spike in oil and Treasuries, and benchmark yield should consolidate around 7.35% levels,” a trader with a private bank said. (Reuters)

18 Oct 2023, 10:10 AM IST
Sensex Today Live: Committed Cargo Care shares list with 6.5% premium at ₹82 apiece on NSE SME

Committed Cargo Care IPO Listing: Committed Cargo Care Ltd shares made a decent Dalal Street debut on Wednesday. The shares of the third-party logistics provider Committed Cargo Care were listed at 82.00 apiece on NSE SME, a premium of 6.49% to the issue price of 77.00 per share.

Committed Cargo IPO was an SME IPO that opened for subscription on October 06 and closed on October 10. The company raised 24.95 crore from the public issue, which was completely a fresh issue of 32,40,000 equity shares and there was no offer for sale (OFS) component. (Read More)

18 Oct 2023, 09:59 AM IST
Sensex Today Live | Share Market Updates: Sun Pharma is among the biggest gainers as the stock jumps more than a per cent

18 Oct 2023, 09:58 AM IST
Sensex Today Live: Rupee rises 2 paise to 83.23 against US dollar in early trade

The rupee appreciated by 2 paise to 83.23 against the US dollar in early trade on Wednesday on the back of a weaker American currency and inflow of foreign funds in the domestic equity markets.

Forex traders said surging crude oil prices and negative trend in equity markets, however, capped the rise in the domestic currency.

At the interbank foreign exchange, the domestic unit opened at 83.24 against the dollar and then inched up to 83.23, registering a gain of 2 paise over its previous close.

On Tuesday, the rupee settled at 83.25 against the US dollar. (PTI)

18 Oct 2023, 09:48 AM IST
Sensex Today Live: Metal index gain in early trading as most stocks in the index trade higher

18 Oct 2023, 09:40 AM IST
Sensex Today Live | Share Market Updates: Q2 Results today: Bajaj Auto, Wipro, IndusInd Bank, among 32 firms to post earnings

The quarterly earnings season is in full swing and today 32 companies will be reporting its earnings. The most prominent ones being Bajaj Auto, Bandhan Bank, ICICI General Insurance, IndusInd Bank, Wipro and UTI AMC.

Here’s the list of some of the companies that will report their Q2FY24 numbers today – 5paisa, Astral, Alpha Ind, Bajaj Auto, Bandhan Bank, DPL, Gujarat Cotex, Heritage Food, Himachal Fibres, ICICI General Insurance, IIFL, IndusInd Bank, LTI Mindtree, OFSS, Persistent, Polycab, ShoppersStop, Titagarh, UTI AMC, Wipro, Tips Ind. (Read More)

18 Oct 2023, 09:37 AM IST
Sensex Today: Geojit Financial Services views on today’s market: Even while remaining vigilant, market weakness can be used to buy high-quality stocks

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: The tragic incident in the Gaza hospital has confounded the already confused developments. We are in uncharted territory. While hoping that things won’t get worse let us look at the broad trends.

In spite of the tragic geopolitical developments, globally markets are resilient. There are two main reasons for this. One, the US economy continues to be strong and this is supporting the mother market and thereby other markets, too. Two, the market view is that the Fed will succeed in soft landing the US economy and avert a recession. Back home in India the resilience of the Indian economy and improving macros are supporting the market. The recent experience is that geopolitical developments will not impact the markets for long. For instance, the market is ignoring the ongoing Ukraine war.

Even while remaining vigilant, market weakness can be used to buy high-quality stocks, particularly in sectors like financials, automobiles and capital goods.

18 Oct 2023, 09:30 AM IST
Sensex Today Live: Bajaj Finance along with Bajaj Finserv is among the biggest laggards in early trading and keep the markets in red

Bajaj Finance Ltd on Tuesday reported a consolidated net profit of 3,550.80 crore in the second quarter of FY24, registering a growth of 27.7% from 2,780.65 crore in the corresponding quarter of last year. Net interest income (NII) of the non-banking finance company (NBFC), on a consolidated basis, in Q2FY24 increased by 26% to 8,845 crore from 7,002 crore, year-on-year (YoY), according to company’s exchange filing.

18 Oct 2023, 09:26 AM IST
Sensex Today: Indices start marginally lower as Bajaj twins drag the market, while metal stocks gain

18 Oct 2023, 09:11 AM IST
Sensex Today Live | Share Market Updates: IndiGo widens lead on international routes

Low-cost airline IndiGo has almost doubled its share of India’s international flights in the first quarter of FY24 from the corresponding pre-pandemic period, expanding its lead in this lucrative segment.

Between April and June, IndiGo, the largest domestic airline, has achieved a 17.2% market share, among both Indian and foreign airlines operating on international routes, up significantly from 9.6% in the June quarter of 2019, according to data from the Directorate General of Civil Aviation (DGCA). (Read More)

18 Oct 2023, 09:03 AM IST
Sensex Today Live: Sensex starts flat at the preopen session with a bias for negative; Bajaj Finance, RIL, Airtel will be in focus in today’s session

18 Oct 2023, 08:56 AM IST
Sensex Today Live | Share Market Updates: China’s Growth Beats Forecasts as Consumer Spending Improves

China’s economy found a foothold in the third quarter as the government increased support and consumer spending picked up, while the property market remained a drag.

Gross domestic product increased 4.9% in the July-September period from a year prior, data released by the National Bureau of Statistics showed Wednesday. Compared to the second quarter, GDP grew 1.3%. Both figures surpassed economists’ expectations.

Retail sales jumped 5.5% in September, well above forecasts and the highest reading since May. The jobless rate inched down to 5%, the lowest since November 2021. (Bloomberg)

18 Oct 2023, 08:49 AM IST
Sensex Today Live: ‘FTX investments were not reckless and frivolous’: Sam Bankman-Fried’s lawyer

FTX founder Sam Bankman-Fried’s attorney on Tuesday disputed former CEO Nishad Singh’s evidence depicting the expenditures of cryptocurrency exchange on marketing and celebrity endorsements as exorbitant, while also claiming the investments made by the now-bankrupt company were not “reckless and frivolous”.

The company’s former engineering chief testified for a second starting day at Bankman-Fried’s fraud trial in Manhattan federal court, according to a report published by Reuters. (Read More)

18 Oct 2023, 08:48 AM IST
Sensex Today: Choice Broking’s morning outlook: it is advisable for market participants to exercise caution and adopt a more selective, stock-specific approach

Mandar Bhojane, Equity Research Analyst, Choice Broking’s morning outlook: On October 18, the benchmark Sensex and Nifty indices are expected to open higher, as indicated by trends in the GIFT Nifty, with a potential gain of 30 points.

Asian stocks mostly traded within a narrow range, influenced by mixed overnight cues from Western markets. US stock futures were slightly lower as the quarterly earnings season gained momentum. Investors are also closely monitoring developments in Israel, selective metals, media, auto ancillaries, cement, and oil upstream stocks, which are likely to be in focus during the day.

In the daily chart, the Nifty index continues to display a bullish trend, maintaining its position above the channel breakout level. This positive trend is expected to persist as long as the index remains above the 19,850 level. On the upside, there is potential for the index to extend its gains toward the 20,000 mark. However, if it falls below 19,700, we may witness a period of consolidation.

According to provisional data from the National Stock Exchange (NSE), foreign institutional investors (FII) bought shares worth 263.68 crore, while domestic institutional investors (DII) purchased stocks worth 112.55 crore on October 17.

Given the lack of clear trends in both the Nifty and Bank Nifty, it is advisable for market participants to exercise caution and adopt a more selective, stock-specific approach to their investments. This approach can lead to well-informed and strategic investment decisions in a potentially volatile market.


18 Oct 2023, 08:34 AM IST
Sensex Today: Stocks to Watch: RIL, Airtel, Bajaj Finance, LIC, IDFC First, Maruti Suzuki, L&T Tech, Titan, Tata Elxsi, IndiGo, and ICICI Prudential

  • RIL/Bharti Airtel: Bharti Airtel and Reliance Jio might face over 14,000 crore in tax demands due to a Supreme Court ruling on license fee categorization.
  • Bajaj Finance: Bajaj Finance Ltd’s Q2FY24 net profit surged by 27.7% to 3,550.80 crore, with a 26% increase in net interest income.
  • LIC: The Income Tax Department is challenging a tribunal order favoring LIC in tax disputes amounting to 4,993 crore related to the assessment year 2013-14.
  • IDFC/IDFC First Bank: IDFC’s merger with IDFC First Bank received approval from the Competition Commission of India.
  • Maruti Suzuki: Maruti Suzuki India is issuing shares worth 12,841 crore to Suzuki Motor Corp. for complete acquisition of Suzuki Motor Gujarat Pvt. Ltd.
  • L&T Tech: L&T Technology Services posted a consolidated net profit of 316 crore and consolidated revenue of 2,378 crore in Q2FY23-24.
  • Titan: Titan Company Ltd’s Board approved the proposal to raise funds through the issuance of NCDs for an amount up to 2,500 crore.
  • Tata Elxsi: Tata Elxsi’s net profit reached 200 crore in the quarter ending September 2023, marking a 14.8% annual increase.
  • InterGlobe Aviation: IndiGo doubled its share of India’s international flights in Q1FY24 to 17.2%.
  • ICICI Prudential: ICICI Prudential Life Insurance Company’s net profit rose by 23% to 244 crore in the quarter ended September 2023 despite a decrease in total income. (Read More)
18 Oct 2023, 08:23 AM IST
Sensex Today Live | Share Market Updates: Oil jumps over 2% as Middle East tension flares up

Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region.

Brent crude futures gained $2.07, or 2.3%, to $91.97 a barrel at 0225 GMT. West Texas Intermediate crude (WTI) futures were up $2.26, or 2.6%, at $88.92 a barrel.

Markets factored in risk premiums after about 500 Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other. (Reuters)

18 Oct 2023, 08:11 AM IST
Sensex Today: Tata Elxsi Q2 results: Net profit up 14.8% YoY at ₹200 crore, revenue at ₹882 crore

Tata Elxsi, the design and digital technology division of the Tata Group, recently disclosed a net profit of 200 crore in the quarter ending September 2023, according to a regulatory filing submitted on October 17.

This net profit marks a 14.8% annual growth, given that it was 174.3 crore in the corresponding period last year. Moreover, the company’s net profit witnessed a sequential increase of 5.9% from 188.9 crore, which was reported in the June 2023 quarter. (Read More)

18 Oct 2023, 07:59 AM IST
Sensex Today Live: Buy or sell: Vaishali Parekh recommends three stocks to buy today

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher recommends:

  1. BUY IRCTC at 714.60 stoploss 702 Target 747

2. BUY WEST COAST PAPER at 754.40 stoploss 742 Target 790

3. BUY CYIENT at 1777.85 stoploss 1755 Target 1860 (Read More)

18 Oct 2023, 07:49 AM IST
Sensex Today Live | Share Market Updates: I-T Dept moves Bombay HC against tribunal order in favour of LIC in ₹4,993 crore tax disputes

The Bombay High Court is currently being approached by the Income Tax Department to contest a tribunal order favoring the Life Insurance Corporation (LIC) in tax dispute cases amounting to a cumulative sum of 4,993 crore.

The specific matter revolves around two tax dispute cases concerning amounts of 1,838.8 crore and 3,153.9 crore, respectively, both associated with the assessment year 2013-14.

The Mumbai bench of the Income Tax Appellate Tribunal had previously issued a ruling in support of the LIC in both these cases. (Read More)

18 Oct 2023, 07:48 AM IST
Sensex Today: Bharti Airtel, Reliance Jio may face tax demands worth over ₹14000 cr: Kotak

Bharti Airtel and Reliance Jio could face potential tax demands exceeding 14,000 crore due to the Supreme Court’s recent decision on licence fee categorisation, according to analysts. The judgment stipulated the treatment of the licence fee as capital, a departure from its previous classification as an expenditure.

While the judgment implies a heightened tax liability, the real impact may be mitigated by factors like depreciation and amortization spanning the 20-year licence tenure, brokerage firms noted. It is anticipated that telecom companies might look at legal recourse. (Read More)

18 Oct 2023, 07:37 AM IST
Sensex Today Live: Bajaj Finance Q2 Results: Net profit rises 28% on year to ₹3,550.80 crore, NII up 26%

Bajaj Finance Q2 FY24 Performance: Bajaj Finance Ltd announced its Q2 FY24 results, revealing a consolidated net profit of 3,550.80 crore, marking a significant 27.7% surge from 2,780.65 crore recorded in the same period last year.

The non-banking finance company (NBFC) also experienced a notable increase in its Net Interest Income (NII) on a consolidated basis during Q2 FY24, reaching 8,845 crore, which signifies a robust 26% growth compared to 7,002 crore in the corresponding quarter of the previous year, as per the company’s exchange filing. (Read More)

18 Oct 2023, 07:27 AM IST
Sensex Today Live | Share Market Updates: Adani in talks to develop Sabang port in Indonesia

Adani Ports and Special Economic Zone Ltd (APSEZ) is in talks with the Indonesian government to develop the strategically vital Sabang Port, two people aware of the matter said.

The group, which is also developing the Haifa Port in Israel, is considering establishing a new container terminal and transit port facilities at Sabang, located near the Strait of Malacca, a key global trade route, one of the two people said, requesting anonymity. (Read More)

18 Oct 2023, 07:26 AM IST
Sensex Today Live | Share Market Updates: Wall Street drifts and yields rise as U.S. shoppers show they’re still spending

Wall Street drifted to a mixed finish Tuesday following the latest signal that the U.S. economy remains solid, though perhaps too strong for the Federal Reserve’s liking.

The S&P 500 edged down by 0.43, which is well less than 0.1%, to 4,373.20 after flipping between small gains and losses through the day. The Dow Jones Industrial Average added 13.11 points, or less than 0.1%, to 33,997.65, and the Nasdaq composite fell 34.24, or 0.3%, to 13,533.75.

Financial markets have been shaky in recent weeks due to worries about war in the Middle East and its potential impact on oil prices. But those worries have receded a bit to put the focus back on what usually drives the stock market’s long-term movements: where interest rates, the economy and corporate profits are heading.

A report on Tuesday showed shoppers spent more at U.S. retailers last month than economists expected. That’s a sign of a healthy economy and likely a result of a still-solid job market, which should help to support profits at companies.

But a too-hot economy could also give inflation more fuel and push the Fed to keep interest rates high to suffocate it. Such a move would hurt prices for stocks and other investments. (AP)

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