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Market Savera - 22/05/2024
2d ago
Market Savera - 22/05/2024
U.S. stocks traded lower Wednesday as the minutes from the Federal Reserve’s May meeting raised concerns of persistent inflation, indicating the central bank may not cut interest rates soon. Post market, Nvidia’s results sent its shares as much as 7% higher in after-hours trading. Nvidia said second-quarter revenue will be about $28 billion, beating analysts’ estimates. The company also announced a 10-for-1 stock split and boosted its quarterly dividend by 150% to 10 cents a share. The Reserve Bank of India's (RBI) Central Board of Directors has approved the transfer of Rs 2.11 lakh crores as surplus to the government for the financial year 2023-24. The government had budgeted a dividend of Rs 1.02 lakh crore for 2024-25. BPCL Boosts Aviation Fueling Capabilities with New Hydrant Facilities at Manohar International Airport, Goa. NHPC expects to complete all 4 units of the Parbati-II hydroelectric project by Dec 2024 Karur Vysya Bank has set a target of opening 100 new branches during the current financial year across the country, Asia-Pacific markets were mixed after minutes of the last U.S. Federal Reserve meeting revealed Fed officials’ concerns over persistent inflation, with members seemingly becoming unsure of possible interest rate cuts. Nifty ended a range-bound session on May 22 in the positive. At close, Nifty was up 0.31% or 68.8 points at 22597.8. Nifty settled higher for the fifth consecutive session and recorded its longest winning streak since April 25 Nifty could now rise towards the 22710-22794 band while 22404 can provide support on falls in the near term. Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on May 22
Market Savera - 24/04/24
24-04-2024
Market Savera - 24/04/24
US stocks recorded gains across the board on Tuesda. Tesla rose as much as 8% in after-hours trading after the company said its future vehicle lineup would include more affordable models. Easing concerns about the risk of a major re-escalation of tension in the Middle East and a focus on company earnings brought renewed risk appetite from investors. Germany returned to growth in early April after months of contraction, while activity in the broader euro zone expanded at its fastest clip in nearly a year. The U.S. economy lost momentum in April as businesses reported a decline in new orders and reduced employment for the first time since the pandemic. The flash U.S. manufacturing purchasing managers index slipped to a four-month low of 49.9 in April from 51.9 in March. The S&P flash U.S. services PMI fell to a five-month low of 50.9 this month from 51.7 in March. Nikkei led gains in Asia as markets in the region rose across the board, following Wall Street's sustained rally for a second straight day. Mastek wins a new deal from Yanbu Cement Company After reporting losses in the last two quarters, MCX earned a net profit of Rs 87.8 crore during the January-March quarter of FY24. LTIM could report revenue growth of 3% YoY to Rs 8,950 crore in Rupee terms. Nifty rose for the third session on the trot on April 23, to close at 22368, with a minor gain. Unfilled Gap between 22503 and 22427 is expected to remain a resistance zone for the Nifty in the near term. Support for the Nifty is now shifted up to 22212. Indian markets could open higher, in line with higher Asian markets today and positive US markets on Apr 23.