Stock Market Updates By cover art

Stock Market Updates

By: HDFC Securities
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  • Summary

  • Stay updated with the latest happenings in the world of stock markets with our expert analysts
    HDFC Securities
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Episodes
  • Market Savera

    Market Savera
    Jun 28 2024
    *NIFTY scales mount 24K* The S&P 500 closed with a narrow gain on Thursday as Wall Street looked ahead to fresh inflation data for clues as to when the Federal Reserve will begin to lower interest rates. Core inflation in Japan's capital rose in June (to 2.1% YoY vs forecast of 2.0%) on rising fuel bills and the boost to import costs from a weak yen The Japanese yen hit fresh 38-year lows against the US dollar, weakening to as low as 161.27 against the dollar. India is preparing itself for the inclusion of the nation’s government bonds into the JPMorgan Chase & Co. emerging markets index from today, opening up a $1.3 trillion market to a broader range of investors. Equities in Asia on Friday morning followed gains in US stocks overnight. Asian stocks were headed for a fifth straight month of gains on Friday, bolstered by the growing view that cooling inflation in the United States would allow the Federal Reserve to ease rates later this year. HCLTech’s 0.46% stake likely to be sold for Rs 1,757 cr via block deal on Friday Indian Oil to boost LNG portfolio to 20 million tonnes by 2030 Jubilant Ingrevia successfully received EIR from US FDA with Zero observations Nifty ended at record high on June 27 and crossed another milestone by scaling past the 24,000 mark. At close, Nifty was up 0.74% or 175.7 points at 24044. Nifty also registered a smart 6.9% gain in the Monthly F&O series that expired on June 27. Nifty could now rise towards 24240 resistances while 23754 could offer support in the near term. Indian markets could open higher, in line with mostly positive Asian markets today and higher US markets on June 27.
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    2 mins
  • Market Savera

    Market Savera
    Jun 27 2024
    *Morning comments (HDFCSec Retail Research)* *Indian markets could open flat to mildly higher, in line with mostly positive Asian markets today and mixed US markets on June 26* US indexes ended marginally higher on Wednesday, lifted by Amazon.com Inc after it announced a major foray into generative AI. The firm also crossed the $2 trillion valuation mark. Big tech got hit in late US trading after Micron Technology Inc.’s outlook failed to meet the lofty expectations for the industry that has powered the bull market in stocks. Micron slumped in late hours, dragging down some chipmakers including giant Nvidia Corp. China's industrial profits rose at a much slower pace in May, official data showed on Thursday, underlining the struggles faced by the world's second-largest economy as weak domestic demand crimps overall growth. Earnings rose 0.7% year-on-year last month after a 4% increase in April while gains over the first five months also eased to 3.4% from 4.3% in the January-April period The Japanese yen hit a near-38 year low against the U.S. dollar late Wednesday, raising expectations that authorities could intervene in currency markets again. The yen weakened to 160.82 against the greenback according to FactSet data, breaching the previous record of 160.03 on April 29 and reaching its weakest level since 1986. US home sales slumped in May while the median sales price nudged lower, the Commerce Department reported Wednesday. Sales of new single-family homes totaled 619,000 for the month, down 11.3% from the upwardly revised figure for April, which was revised all the way up to 698,000 from the initial estimate of 634,000. The most anticipated economic data due this week is the US personal consumption expenditures (PCE) price index - the Fed's preferred inflation gauge - on Friday. Shares in Asia recovered early losses on Thursday morning after US tech companies dropped in late US trading. Nifty rose for the third consecutive session to close at yet another new all time high. At close, Nifty was up 0.62% or 147.5 points at 23868.80. Trend of the Nifty remains positive. The level of 23660 has become new support for the Nifty. On the higher side, next resistance is seen at 24125, which happens to be 138.2% Fibonacci retracement of the entire fall seen from 23338 (3rd June Top) to 22281 (4th Jun Bottom). *DJ (HDFCSec Retail Research)*
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    2 mins
  • Market Savera

    Market Savera
    Jun 25 2024
    The Dow rallied on Monday to a one-month high, while the Nasdaq fell over 1% as investors rotated out of AI-linked stocks, betting on Federal Reserve interest rate cuts this year. Nvidia slid 6.68% for a third session due to profit taking in the semiconductor bellwether after last week's sharp rise made it the world's most valuable company. India's current account balance recorded a surplus for the first time since April-June 2021, aided by lower merchandise trade deficit and higher services exports. India's current account balance recorded a surplus of $5.7 billion (0.6% of GDP) during January-March 2024 quarter, as against a deficit of $8.7 billion (1% of GDP) in the preceding quarter and $1.3 billion (0.2% of GDP) in the same quarter a year ago. For the full year, India’s current account deficit moderated to $23.2 billion (0.7% of GDP) during FY24 from $67 billion (2% of GDP) during the previous year on the back of a lower merchandise trade deficit. Asia-Pacific markets mostly climbed higher on Tuesday, even as U.S. Big Tech stocks sold off in favor of other sectors such as banking and energy. Nifty ended marginally higher in a volatile session after a lower opening on June 24. At close, Nifty was up 0.16% or 36.8 points at 23537.8. Nifty formed a bullish piercing line pattern on daily charts. However, the small range and falling turnover does not support the bullish outcome. In the near term Nifty could face resistance in the 23570-23667 band while 23290 could offer support.
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    2 mins
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