Market Savera - 12/12/2024

Stock Market Updates

U.S. stocks finished mostly higher on Wednesday, following the release of as-expected CPI inflation data for November. Investors’ enthusiasm for US technology giants sent stocks higher Wednesday.

Natural-gas futures posted a sharp climb on Wednesday after forecasts for another "cold blast" on the East Coast.

Gold prices rallied Wednesday after U.S. inflation data met market expectations, gaining for a fourth straight session to settle at $2,756.70 an ounce on Comex

Brazil’s central bank increased the benchmark interest rate by a full percentage point to 12.25% late on Wednesday, and promised to deliver two hikes of the same size in the next two meetings.

Asian stocks rose Thursday after US equities snapped a two-day slide on benign inflation data that supported expectations of a Federal Reserve interest rate cut this month.

Ami Organics approved capex of Rs 177 crore for its brownfield project of electrolytes additives products at Jhagadia facility, Gland Pharma received approval for Phytonadione Injectable Emulsion

Afcons Infrastructure JV received an order worth Rs 504 crore

Benchmark Nifty index remained range bound for the fourth consecutive day on Dec 11 and closed with a minor gain of 31 points or 0.13% at 24641.8 levels. Advancing shares have outnumbered declining shares for the fourteenth consecutive day, with an advance-decline ratio of 1.17 on the BSE. This marks the first time in a decade that advancing shares have surpassed declining shares for fourteen straight days. Short term support for the Nifty is seen at 24354, while resistance for the same is seen at 24832.

Indian markets could open flat to mildly higher, in line with higher Asian markets today and mostly higher US markets on Dec 11.