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Home > Stock Market Updates > Market Savera - 07/23/2024
Podcast: Stock Market Updates
Episode:

Market Savera - 07/23/2024
Category: Business
Duration: 00:02:12
Publish Date: 2024-07-23 03:45:44
Description: US stocks recovered after their worst week since April as investors looked beyond Joe Biden ending his reelection campaign to focus on the start of the tech earnings season. Asian stocks bounced from one-month lows on Tuesday, with Taiwan's semiconductor shares taking a lead from a Wall Street recovery. Anant Raj Cloud, a wholly-owned subsidiary of the company, has entered into a MoU with GoogleLLC to collaborate for providing Data Center Infrastructure, DC Managed Services and Cloud Platform to various Public & Private enterprises. RailTel Corporation of India Ltd. has received the work order for Indian Railways amounting to Rs 186.81 crore. Sanofi has issued a circular in the Indian market stating that it is going to temporarily halt the sales of its Allegra Suspension syrup Nifty closed lower for the second consecutive session on July 22 as traders reduced commitments ahead of the Union Budget on July 23 and investors parsed through corporate results. At close, Nifty was down 0.09% or 21.7 points at 24509.3. India is scheduled to unveil its first budget under Prime Minister Narendra Modi’s third five-year term. The budget is largely expected to be growth-oriented, with some measures aimed at addressing the rural economy. This is largely discounted. Any measure that disturbs the fiscal consolidation path or cuts capex for increasing allocation to revex or strong measures to hurt the capital market taxation could result in a negative reaction. The Union Budget presentation will likely create enough intra-day volatility on that day. Nifty could face resistance at 24661 and later at 24801 in the near term while 24141 could provide support on falls. Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on July 22
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