Market Savera - 05/12/2024

Stock Market Updates

Morning Market Comments HDFC Sec Research

US stocks finished at fresh milestones on Wednesday, with investors unfazed by the Federal Reserve's more cautious approach on cutting rates and U.S. service-sector data that came in below expectations for November.

Federal Reserve Chair Jerome Powell on Wednesday afternoon reiterated that policymakers can afford to be more "cautious" in their approach to monetary easing in the face of a resilient U.S. economy. Powell’s comment that the US economy is in remarkably good shape excited investors.

The Dow Jones Industrial Average on Wednesday finished above 45,000 for the first time, as it extended a 2024 rally that’s driven major benchmarks to a series of records.

The oil cartel, Organization of Petroleum Exporting Countries and its allies (commonly known as OPEC+) is set to meet on December 5 to discuss the group’s policy on output cuts for 2025.

Vodafone Group Plc to offload Indus Towers stake via Rs 2,700 crore block trade at a slight discount

Royal Enfield, a subsidiary of Eicher Motors, has launched a new CKD assembly plant in Thailand.

Hero MotoCorp expands EV lineup with VIDA V2 electric scooters starting at ₹96,000

Asia-Pacific markets traded mixed on Thursday, shrugging off global political turmoil in France (its government fell after a no-confidence vote in Parliament) and South Korea where the country’s opposition party sought to impeach President Yoon Suk Yeol after he briefly imposed martial law.

Nifty continued its upward journey for the fourth day in the row on Dec 04. Nifty finally ended the day with modest gains of 10 points or 0.04% at 24467. A decisive move above 24500 is likely to open the next upside of around 24900 in the near term. The immediate support is at 24300.

Indian markets could open flat to mildly lower, in line with mixed Asian markets today and despite positive US markets on Dec 04