Market Savera - 21/11/2024

Stock Market Updates

U.S. stocks finished mixed on Wednesday after choppy trading as investors braced for a key earnings report. Big tech edged lower in afterhours trading following a disappointing revenue forecast from Nvidia Corp. Nvidia reported third-quarter revenue and earnings that met estimates but fell short of the highest estimates for future revenue.

India's economic growth is expected to pick up in the current quarter after a slowdown in July-September, the country's central bank said in its monthly bulletin on Wednesday, citing a rebound in private consumption in the festive period. The Reserve Bank of India (RBI) projected third-quarter gross domestic product growth at 7.6%, faster than an estimated 6.7% in the second quarter.

Gautam Adani, was charged in an indictment unsealed Wednesday with securities fraud and conspiring to commit securities and wire fraud. Dollar-denominated notes issued by the Adani Group fell as much as 10 cents on the dollar Thursday. Adani group shares could react downwards today.

Tata Power and Bhutan's Druk Green Power Corporation Limited Forge partnership to develop 5,000 MW of Clean Energy Projects in Landmark Regional Collaboration

GRSE has signed a contract worth Rs 226.2 crore with the Transport Department of the Government of West Bengal for the delivery of 13 hybrid ferries

BEML Limited has secured an order worth Rs 246.8 crore from Central Coalfields Limited (CCL)

Asian equities were mixed in Thursday trading, reflecting a muted mood on Wall Street triggered by Nvidia Corp.’s lackluster revenue forecast.

Nifty 50 snapped the worst losing streak of 7 days fall in over 20 months on Nov 19. At close, Nifty was up 0.28% or 64.7 points at 23518.5. Nifty could form a higher low before embarking on a sustainable bounce. 23350-23815 could be the band for the Nifty over the near term.

Indian markets could open flat to mildly higher, in line with mixed Asian markets today and mixed US markets on Nov 20