Today’s Market News:
Global markets are suggesting Negative signals, so our Indian markets are likely to start with a “Gap-Down” opening today.
The Indian stock market starts weak, with Sensex and Nifty down 1.3% due to FPI selling. Nifty 50 breached its 50-day moving average.
* Indian markets are expected to consolidate, with Nifty futures showing a trading range between 24,200 and 25,200, reflecting global trends.
* The Nifty index needs to maintain the 24,600 zone for potential upward movement towards 24,800 and 25,000 levels, with key support at 24,500 and 24,300.
* Rajeshwari Cans has announced a 1:1 bonus share issue, with the record date set for December 19, 2024, marking its first-ever bonus share issuance.
* The stock has delivered impressive returns of over 320% in the past year, with nearly 380% in the last six months, indicating strong investor interest.
* Exide Industries has invested Rs 100 crore in its subsidiary, Exide Energy Solutions Ltd, through a rights issue, raising its total investment in EESL to Rs 3,152.24 crore.
* Senores Pharmaceuticals is launching its IPO on December 20, with a price band set between Rs 372-391, aiming to raise Rs 582 crore.
* Oil prices remained stable as investors awaited a potential interest rate cut by the U.S. Federal Reserve, with Brent futures at $73.31 and WTI at $70.19 per barrel.
* The market is particularly focused on 2025 rate projections and the implications of Trump’s possible return to power, which could influence inflation and the Fed’s autonomy.
* Gold prices have slightly increased as investors await the Federal Reserve’s policy decision, with expectations of a potential pause in rate cuts due to strong U.S. retail sales data and easing inflation.
* The market anticipates a quarter-point rate cut, but the probability of another reduction in January is low, indicating cautious sentiment among traders.
