Market Savera - 26/11/2024
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The Dow Jones Industrial Average logged a record close on Monday, as U.S. Treasury bonds saw their biggest rally in nearly four months after President-elect Donald Trump selected Scott Bessent as his nominee for Treasury secretary. U.S. President-elect Donald Trump said on Monday that on his first day in office he will impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China. The announcement sparked a dollar rally. It rose 1% against the Canadian dollar and 2% against the Mexican peso, while share markets in Asia fell, as did European equity futures ratcheting up concerns about his America First policies. Crude oil prices on Monday settled sharply lower on the back of speculation over a cease-fire in Lebanon, combined with what appears to be restraint on the part of Iran. Gulf oil renews partnership with Piaggio India for cobranded lubricants till 2030 Ashoka buildcon receives LOA from NHAI projects worth Rs. 1391 cr KEC international wins new orders worth 1114 cr Asian shares were mostly lower on Tuesday on the back of Trump’s threat to impose tariffs on China, which could have an impact on other Asian economies. Nifty rose again on Nov 25 adding nearly 4% in two consecutive sessions of gains to regain its losses on a month-on-month basis. At close, Nifty was up 1.32% or 314.7 points at 24221 In the near term 24500 could still pose some resistance for the Nifty while 23900 could offer support. Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and despite positive US markets on Nov 25
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