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Home > Stock Market Updates > Market Savera 05/082024
Podcast: Stock Market Updates
Episode:

Market Savera 05/082024
Category: Business
Duration: 00:02:35
Publish Date: 2024-08-05 03:17:22
Description:

Investors dumped U.S. stocks on Friday, after a softer-than-expected jobs report heightened worries over slowing economic growth. A weak jobs report fueled worries that the Federal Reserve’s decision to hold rates at a two-decade high is risking a deeper economic slowdown. The tech-heavy Nasdaq Composite tumbled 2.4% Friday. That put the index in correction territory, or down more than 10% from its recent end-of-day high set on July 10.

Intel shares plunged the most in 50 years on Friday, reaching a price not seen since 2013, after the chipmaker reported a big earnings miss and announced a massive restructuring. The stock plummeted 26% to $21.48 at the close.

IDBI Bank sells distressed Rs 6151 cr portfolio to Omkara ARC

Airtel & Jio may invest $2 bn in 5G gear to boost mobile broadband

Infosys says DGGI withdraws tax demand of Rs 3,898 crore for FY18

A global stocks selloff deepened on Monday and Asian stocks fell as concerns grew that the Federal Reserve is behind the curve with policy support for a slowing US economy. Japan’s benchmark Nikkei 225 stock index plunged as much as 6.7% early Monday before recovering some lost ground, extending sell-offs that began last week.

Nifty 50 snapped a five-day winning streak on Aug 02. At close, Nifty was down 1.17% or 293.2 points at 24717.7. Nifty fell on Aug 02 with a downgap and closed near the intraday low. This gap has been formed near the psychological level of 25000. Nifty and Sensex reversed an eight-week winning streak on Friday's decline falling 0.47% over the week. Some downward momentum can continue towards the 24210-24461 band. On upmoves, 24857-24956 band could provide resistance.


Indian markets could open lower, in line with lower Asian markets today and sharply negative US markets on Aug 02
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