Mon, Nov 25, 2024 3:11 PM
Aspinwall Consolidated September 2024 Net Sales at Rs 74.00 crore
A Flip by Shubhangi Gupta
A stock-market rally boosted by President-elect Donald Trump’s victory is set to put upward pressure on the Federal Reserve’s preferred inflation gauge, which in turn could keep interest rates elevated. Services inflation has been a relatively stubborn component of the overall PCE index, which is seen rising 0.2% in October from the prior month and 2.3% from a year ago in data due Wednesday.
Open Flip
The Nifty index opened with a gap up and remained above 24,100, but formed a DOJI candle, indicating indecisiveness in the market, with support at 24,200 and 23,950-24,000, and resistance at 24,350 and 24,500-550. The Nifty is likely to remain volatile or consolidate within the 24,000-24,500 range in the near term.
Open Flip
Driven by weak Q2 earnings, the Nifty reported a 4% YoY PAT growth in 2QFY25, according to a report by Motilal Oswal, slightly above the expectations of 3%, marking its second consecutive quarter of single-digit PAT growth since the pandemic (June 2020). Corporate earnings showed signs of weakness, with adverse contributions from BPCL, JSW Steel, Coal India, IndusInd Bank, and Reliance Industries.
Open Flip
