Thu, Feb 1, 2024 10:22 AM
Yellow metal falls after Fed dashes hopes of rate cut in March
A Flip by Shubhangi Gupta
Asian stocks eked out gains following mixed results from Wall Street tech companies and as traders prepare for next week’s US election and Federal Reserve rate decision. Shares gained in Japan, but slipped in Australia and South Korea. US contracts advanced in Asia after the S&P 500 closed up 0.2% and the Nasdaq Composite rose to a record.
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📌Nifty 50 ended the previous trade session 1,810.5 points away rom its record high of 26,277.35. 📌Wall Street indices were mixed. 📌Nasdaq hit a fresh record high, while the Dow Jones continued to underperform and the S&P 500 ended with minor gains. 📌Asian equities gained in early trade today. 📌Indian stocks react to quarterly earnings, with Marico, CONCOR, and others reporting.
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Bank shares jumped on Tuesday, emerging as the top gainers in the day's trading, as investors lapped up shares of some larger lenders amid uncertainty over near-term market prospects. The Nifty Bank index advanced 2.1% on Tuesday, while the benchmark Nifty gained 0.5%. Ten of the 12 stocks on the Nifty Bank index gained at close on Tuesday.
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