Market extended gains on Tuesday with Nifty ending higher by 0.3% but in USD terms remained more or less neutral. The Nifty in USD terms has been trading sideways since mid of September and has formed Head & Shoulder top and a short term breakdown is placed 1.6% lower. Today, all eyes will be on Fed Minutes which will set the tone for tapering adjustment and strength of dollar globally.
The Dow Jones fell for the 3rd session by more than 100 points, the S&P 500 falling 0.2% and the Nasdaq down 0.1% as investors stayed clear of big bets before key economic data and the start of the Q3 earnings season. The IMF revised lower its global growth forecasts for 2021, with the US economy seen expanding 6%, below 7% in July. Gold prices gained, snapping a three-day losing streak, as a downward revision in global growth forecast by the IMF pushed up the demand for the yellow metal.
Stocks in news
ReNew expects to commission 10.2 GW renewable energy capacity by FY23
Tata Motors to invest $2 billion in EVs after fundraise from TPG, TPG Rise to invest Rs 7,500 cr in Tata Motors’ EV arm at $9.1-bn valuation
Govt accords ‘Maharatna’ status to Power Finance Corporation
Flipkart Wholesale sees 70% e-commerce adoption by kiranas at festive sale
Myntra concludes its festive sale with record 52 mn visitors, 8 mn orders
HCL Tech, Google Cloud expand tie up for healthcare, life science solutions
Bajaj Finserv cuts home loan interest rate to 6.70% per annum
IOC -Report says Co. To Put EV Charging stations
Must Read: Hybrid Funds And Its Types
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning without any cost on: http://bit.ly/Robo-Fintoo
Disclaimer: The views shared in blogs are based on personal opinion and does not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.