Market Savera - 30 / 12 / 24

Stock Market Updates

Morning Market Comments

U.S. stocks ended lower on Friday amid concerns around Donald Trump’s potential trade policy and the interest rate expectations next year. A selloff in the world’s largest technology companies hit stocks in the final stretch of a stellar year. A gauge of the “Magnificent Seven” sank 2%, led by losses in Tesla Inc. and Nvidia Corp.

India's current account deficit remained flat in the July–September period at $11.2 billion as increased receipts from services offset a rise in merchandise trade deficit. The CAD came in at 1.2% of the gross domestic product, as per the Reserve Bank of India data on Friday.

The U.S. goods trade deficit widened more than expected in November on a rebound in imports, clouding the picture over whether trade might add to economic growth this quarter for the first time in a year.

Adani Green Energy commissioned two projects in Gujarat

Vodafone Group clears Rs 11,650 cr dues, releases pledged shares in Vodafone Idea

Cochin Shipyard bags Adani Ports tug boat order, deal value estimated at Rs450 crore

Asian stocks were mostly range bound in low volumes in early trading after US equities dropped on Friday, led by losses in technology shares.

Nifty rose by 22 points or 0.10%, on Dec 27 to close at 23750. Nifty found resistance near its 200 days SMA for the third consecutive session. On the lower side, 23600 is expected to act as a support, while 23870 could act as an immediate resistance, above which Nifty could extend its pullback towards 24000.

Indian markets could open flat, in line with muted Asian markets today and despite lower US markets on Dec 27.