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Home > Stock Market Updates > Market Savera - 29/07/2023
Podcast: Stock Market Updates
Episode:

Market Savera - 29/07/2023
Category: Business
Duration: 00:02:35
Publish Date: 2024-07-29 03:16:49
Description: U.S. stocks bounced Friday after a turbulent week for the S&P 500, as investors weighed fresh data on inflation from the Federal Reserve’s favored gauge. Stocks saw sharp gains after a fresh reading on U.S. inflation renewed investor optimism that the Federal Reserve may cut interest rates as soon as September. China’s industrial profits grew at a faster clip in June, official data showed on Saturday, even as businesses were grappling with a downshift in consumers’ sentiment amid a shaky economic recovery. DLF plans to launch Rs 1.04 lakh crore worth real estate projects in medium term Paytm gets government nod for investment in payments arm Vodafone Idea offers to clear remaining Nokia dues of Rs 1,500 crore Asian shares rose on Monday into a week packed with earnings and a trio of central bank meetings. Oil prices inched up over the weekend on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights. Nifty snapped a five-day losing streak on July 26 and touched an all time high in the last minutes of trade. At close, Nifty was up 1.76% or 428.8 points at 24834.9 with Nifty touching fresh life-time high of 24,861.15. Nifty has surpassed the crucial resistance of 24600 and now that resistance is expected to change its role as a support going forward. Nifty rose for the eighth consecutive week, rising 1.24%. Global investors will in the coming week look out for earnings from the US market’s biggest tech companies, a Federal Reserve policy meeting and closely watched employment data in a week that could determine the near-term trajectory of U.S. stocks following a bout of severe turbulence. Nifty could face resistance in the coming week from the 24963-25085 band while the 24504-24600 band could offer support. The view remains mildly bullish for the near term. Indian markets could open higher, in line with higher Asian markets today and positive US markets on July 26
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