Market Savera - 02/09/2024
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Indian markets could open flat to mildly higher, in line with mixed Asian markets today and positive US markets on Aug 30 U.S. stocks ended higher Friday, with the Dow Jones Industrial Average notching a fresh record peak ahead of Labor Day weekend. The US personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge, rose 0.2% on a monthly basis in July and 2.5% from a year ago. The result was in line with estimates from economists polled The latest estimates put out by the national statistical office (NSO) showed that India’s real or inflation-adjusted gross domestic product (GDP) grew 6.7 per cent in the April-June quarter, slower than the previous quarter's 7.8 per cent and 8.2 per cent growth in the same quarter of the previous year The index of eight core industries grew by 6.1% in July, as compared to 4% in June, on an annual basis, according to data released by the government on Friday. Cement, steel, Fertiliser and Refinery products showed a faster growth while crude oil and Coal were laggards. China's manufacturing slowed to a six-month low in August, an official factory survey showed on Saturday, raising expectations policymakers will unveil fresh plans to direct more stimulus to households and less to infrastructure projects. Zydus Lifesciences received warning letter from US FDA for Jarod facility Krishna Institute of Medical Sciences acquires 100% stake in Chalasani Hospitals for Rs 28 crore Gujarat Gas board approves merger, demerger plan involving GSPC and GSPL Asian stocks were mixed Monday as signs mounted that China’s efforts to support its ailing economy have yet to take hold. Nifty ended higher on Aug 30 - for the twelfth consecutive session, its best winning streak since its launch in 1996. At close, Nifty was up 0.33% or 83.9 points at 25235.9. Nifty rose on Aug 30 with an upgap and closed at record highs. Nifty could take support from 24971 while 25400 on the upside could prove to be a resistance in the near term.
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