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The small-cap Russell 2000 index jumped 5.4%, outperforming the broader market, while the rate-sensitive S&P 500 real estate sector gained 5.3% and utilities rose 3.9%. All three registered their biggest daily percentage increases since Nov. 10, 2022.

Data showed U.S. consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years.

At the same time, there have been few indications that tighter monetary policy is severely hurting the economy, backing the idea that prices can cool further without damaging growth.

The PSU banks continued to show a sustained improvement in the September quarter. At the aggregate level, the provisioning for bad loans or loan loss provisioning for the 12 listed PSU banks fell to Rs 16,552 crore compared with Rs 16,875 crore in the previous quarter and Rs 18,138 crore in the year-ago quarter.

The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the fourth quarter. But it will be roughly 30% smaller than previously projected, at about 900,000 barrels a day.

Other details, including pricing of the nearly 61-million share issue at the Tata Motors-owned unit, will be announced closer to the IPO date.

Analysts have gone cold on corporate executives as they climb a wall of worry that includes soaring labour costs, surging prices for raw materials, rising borrowing rates and heightening geopolitical tensions that have shown no signs of abating.

"Pay statements will be down moderately for most, in another disappointing year," Alan Johnson, managing director of Johnson Associates, said in an interview. Inflation will also make the declines seem even more dramatic, he said, as costs continue to rise.

Jaiprakash Associates is the flagship company of the Jaypee Group which is engaged in engineering & construction (E&C), cement, hospitality & real estate businesses. JAL is also the holding company for various subsidiaries engaged in cement, power, real estate and other diversified business activities.