Today’s Market News:
Today’s GiftNifty indicates a small gap-down opening.
The Indian stock market is expected to trade positively, with Nifty potentially touching 25,200 levels.
The market trend is expected to remain strong, with potential targets reaching 25,000 in the short term, supported by a recent positive momentum.
* Key focus will be on the upcoming US Fed meeting, where a 25 basis point rate cut is anticipated, influencing market sentiment.
* Foreign portfolio investors have turned net buyers, indicating a positive shift in market dynamics despite some selling by domestic institutional investors.
* Mobikwik’s IPO allotment status is expected to be finalized soon, with a massive subscription rate of 119 times, indicating strong investor interest.
* The shares are anticipated to be listed on December 18, with a significant grey market premium (GMP) of Rs 165, reflecting a 59% premium over the issue price.
Bitcoin has surged to a new high above $106,000, driven by President-elect Trump’s comments on establishing a U.S. bitcoin strategic reserve.
* The cryptocurrency market has nearly doubled in value this year, with Bitcoin’s price increasing over 50% since the election.
* Gold prices remained stable as investors anticipate a third interest rate cut by the Federal Reserve during its upcoming meeting on December 17-18.
* Geopolitical tensions in Gaza and declining demand in India have also impacted the gold market, with discounts in India reaching their highest in over two months.
