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Home > Stock Market Updates > Market Savera - 19/09/2024
Podcast: Stock Market Updates
Episode:

Market Savera - 19/09/2024
Category: Business
Duration: 00:02:51
Publish Date: 2024-08-19 03:26:52
Description:

U.S. stocks closed higher Friday to book their best weekly advance since November. Strong retail-sales data Thursday helped offset concerns about potential weakness in the U.S. economy.

These gains helped secure the best week of the year for all of the major indexes and the best week for stocks since November. The S&P 500 and the Nasdaq notched their seventh straight session of gains, as stocks recouped losses from a tailspin two weeks ago

The Union government in India has slashed windfall tax on domestically produced crude oil to Rs 2,100 per tonne from previous Rs 4,600 per tonne.

Global central bank officials will speak at the symposium in Jackson Hole, Wyoming, next week, with Fed Chair Jerome Powell's keynote speech on Friday potentially setting expectations for a U.S. rate cut trajectory.

BPCL plans Rs 1.7 lakh crore spend to expand core business, new energy foray

Macrotech net debt rises 43.5% to Rs 4.3K cr in Q1 on higher capex for land

Tourism Finance Corporation of India (TFCI) will set up an alternative investment fund as it plans to enter retail lending

Asian stocks broadly rose on Monday ahead of key central bank decisions in the region this week and the annual meeting at Jackson Hole.

Nifty recorded its highest closing in last 2 weeks on August 16. At close, Nifty was up 1.65% or 397.4 points at 24541.2. It could now head towards 24686 and later 24956 levels over the near term, while 24144-24347 band could offer support. Revival in Nikkei aided by depreciation in the yen over the last few days has led to recovery in the global equity markets.

While F&O volumes seem to be on a revival path, cash volumes have yet to pick up in a big way. This is essential for durable recovery in indices.

Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Aug 16
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