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Home > Stock Market Updates > Market Savera - 02/08/2024
Podcast: Stock Market Updates
Episode:

Market Savera - 02/08/2024
Category: Business
Duration: 00:02:12
Publish Date: 2024-08-02 03:24:00
Description: The S&P 500 started August under heavy pressure on Thursday as softer economic data placed recession fears back in the spotlight. U.S. stocks saw huge intraday swings on Thursday. According to one metric, it was the market's most volatile day since November 2022. The Nasdaq 100 saw its biggest one-day reversal since May 2022. Economists polled by FactSet project a net gain of 175,000 jobs — a touch below the average for the past three months — and for the unemployment rate to hold steady. Non farm payrolls data is due Friday. Gross GST collections in India rose 10.3 percent to a three-month high of Rs 1.82 lakh crore compared with Rs 1.74 lakh crore in the previous month. Godrej Agrovet to Acquire Remaining Stake In Tyson Foods JV For Rs. 323 Crore Nestle India Invests Rs. 705 Crore in JV with Dr Reddy's Labs Symphony considering for Buyback Japanese stocks plunged for a second day as expectations rose on more rate hikes by the nation’s central bank. The yen gained for a fourth day to pressure markets. Asian equities also declined, tracking losses on Wall Street as data signaled a softening US economy. Indian equity indices rose for the fifth consecutive session on Aug 01, Nifty scaled a new milestone of 25000 for the first time. At the close Nifty was up 59 points or 0.24% at 25010. Nifty is expected to open weak - existing longs should be protected with trailing stop loss of 24798. Nifty Midcap 100 index closed with bearish “Engulfing” candlestick pattern on the daily chart, which signals the possible bearish trend reversal in midcap universe Indian markets could open lower, in line with lower Asian markets today and negative US markets on Aug 01
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