Market Savera - 27/08/2024
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U.S. stocks ended mixed on Monday, while awaiting Nvidia Corp.'s earnings due Wednesday and new inflation data due Friday. A gauge of the “Magnificent Seven” megacaps slid 1.2%. The Dow closed at record highs, as cyclical stocks including financials were back in favor amid a rotation out from tech ahead of a widely expected Federal Reserve cut next month. China's industrial profits grew faster in July, data showed on Tuesday, even as sluggish domestic demand weighs on the recovery in the world's second-largest economy. UltraTech Cement raises $500 mn through sustainability-linked loans Medi Assist Healthcare Services to acquire Fairfax-backed Paramount TPA for Rs 312 crore Aarti Drugs approved buyback worth Rs 59.85 crore Asia-Pacific markets largely fell on Tuesday, despite the Dow Jones Industrial Average on Wall Street reaching new highs. Nifty rose for the eighth consecutive session on August 26 to end above the psychologically crucial 25,000-mark. At close, Nifty was up 0.76% or 187.5 points at 25010.6. Nifty rose with an upgap on August 26, filled the downgap formed on Aug 02 and formed a long bull candle suggesting an attempted breakout on the upside. It could now rise towards the previous high of 25078 and later the 25130-25280 band. On falls, 24850 could offer support in the near term. Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and mixed US markets on Aug 26
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