Market Savera - 20/09/2024
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The Dow ended above 42,000 for the first time ever, while also logging a record close alongside the S&P 500. U.S. stocks surged a day after the Federal Reserve cut interest rates for the first time in four years on growing optimism that the Federal Reserve's jumbo interest rate cut will deliver a "soft landing" for the US economy. Uno Minda lines up over Rs 610 crore investments on new plant in Indonesia, India capacity expansion RBI lifts restrictions on IIFL Finance's gold loan business AU Small Finance Bank ties up with Niva Bupa to offer health insurance products Asian shares extended their rally on Friday, benefitting in the afterglow of an outsized interest rate cut in the United States. Nifty 50 settled at the highest closing level as risk appetite improved overall after the US Fed reduced the key rate and guided for more. At close, Nifty was up 38.3 points at 25415.8. The Nifty could face resistance at 25612 while the 25130-25285 band could offer support in the near term. Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on Sept 19
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