Market Savera - 14/10/2024

Stock Market Updates

U.S. stocks closed higher Friday, with the Dow Jones Industrial Average and S&P 500 each ending at record highs after major Wall Street banks JPMorgan Chase & Co. and Wells Fargo & Co. reported quarterly earnings.

India's industrial growth shrunk for the first time in 22 months by 0.1 percent in August compared with 4.7 percent in the previous month owing to an unfavourable base and heavier than normal rains. Net direct tax collection in India grew 18.3 percent to about Rs 11.25 lakh crore as of October 10 this fiscal

China’s Minister of Finance told reporters Saturday during a press briefing that the central government has room to increase debt and the deficit. China said on Saturday it will "significantly increase" government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state bans' capital as it pushes to revive sputtering economic growth.

Ahluwalia contracts secures orders worth 1094.67 cr

ONGC looks at Mini-LNG plants to evacuate gas from isolated fields.

Sudarshan Chemical to acquire global pigment biz of heubach group

Asian financial markets kicked off the week on a cautious note after China’s Finance Ministry briefing at the weekend underwhelmed and a drop in factory prices reinforced concerns about the economy.

Nifty ended on lower in the low range trade (108 points high low range) on October 11. At close, Nifty was down 0.14% or 34.2 points at 24964.3. Nifty formed a small negative high wave type candle on Oct 11 closing at the lowest in 4 days. Nifty recorded a second consecutive week of fall though the fall was a mild 0.20%. Trend of Nifty remains choppy and rises could be met with selling pressure while dip buying could continue. 24795-25234 could be the broad range for the Nifty over the next few days.

Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on Oct 11.