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Home > Stock Market Updates > Market Savera - 19/07/2024
Podcast: Stock Market Updates
Episode:

Market Savera - 19/07/2024
Category: Business
Duration: 00:02:23
Publish Date: 2024-07-19 03:36:01
Description: US stocks ended lower across the board, with Dow and small-caps facing selling pressure as equities saw across-the board declines. The selloff in stocks intensified on Thursday as Wall Street got caught up in speculation about whether or not President Joe Biden will stay in the race for the White House. A shakeup of the Democratic ticket could make investors more uncertain about the election outcome. Investors are expecting the Fed to begin cutting its interest rates in September, The European Central Bank left interest rates unchanged in a unanimous vote on Thursday following June’s landmark cut, as it described the potential for a September reduction as “wide open.” The decision — which keeps the key ECB interest rate at 3.75% — was widely expected amid ongoing concern over inflationary pressures, particularly from the labor market. Asia-Pacific markets fell on Friday, tracking Wall Street declines as investors continued to take profits from the rally in equities in recent weeks. In China, investors were left disappointed over the lack of details provided on the implementation steps for achieving the country's economic policy goals at the conclusion of its closely watched plenum on Thursday. Bharti Airtel bags multi-year contract from CBDT for providing network solutions Dr. Reddy’s signs non-exclusive patent licensing agreement with Takeda to commercialise Vonoprazan, gastrointestinal drug in India Infosys announced numbers that were above market expectations in Q1FY25 Nifty ended higher for the fourth straight session on July 18 post a sharp recovery post 1130 Hrs. At close, Nifty was up 0.76% or 187.9 points at 24800.9. Nifty has provided a breakout and the next resistance is at 24960. Support could come in at 24661 in the near term. Encouraging results and guidance from Infosys overnight could improve sentiments towards tech stocks and overall market; however it will be interesting to watch as to whether this sustains through the day. Indian markets could open flat to mildly higher, despite mostly lower Asian markets today and negative US markets on July 18
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