Market Savera - 13/12/2024

Stock Market Updates

Morning Market Comments

US stocks fell Thursday, weighed down by a hotter-than-expected U.S. inflation report, as tech shares failed to keep the momentum seen earlier in the week. Wall Street held off on big bets ahead of the Federal Reserve’s policy meeting next week.

The European Central Bank trimmed borrowing costs by 25 basis points as expected and indicated it may deliver further cuts in its upcoming meetings. The Swiss National Bank delivered a 50 basis point cut, more than anticipated.

India’s retail inflation eased to 5.5 percent in November, easing from a 14-month high of 6.2 percent in the previous month, as food prices cooled off.

India's industrial production (IIP) growth slowed to 3.5 per cent year-on-year in October 2024, mainly due to poor performance of mining, power and manufacturing, as per official data released on Thursday.

China pledged on Thursday to increase the budget deficit, issue more debt and loosen monetary policy to maintain a stable economic growth rate as it gears up for more trade tensions with the United States as Donald Trump returns to the White House.

Reliance, Rosneft agree on biggest ever India-Russia oil supply deal. G R Infraprojects Limited has received LOI for the transmission project Bijapur REZ”

Cabinet clears Rs 20,000 crore 'Make in India' projects that would be manufactured at Nasik division of HAL.

Asian equities fell Friday as a lack of details from a Chinese economic conference disappointed some traders, while risk appetite was curbed ahead of next week’s Federal Reserve policy meeting.

Nifty continued to consolidate in the narrow range for the fifth consecutive session, on Nifty’s weekly options expiry session. Index lost 0.38% or 93 points to close at 24548. Short term support for the Nifty is seen at 24399, while resistance for the same is seen at 24798.

Indian markets could open lower, in line with mostly lower Asian markets today and negative US markets on Dec 12