Market Savera - 05/07/2024
Update: 2024-07-05
Description
European stocks rose on Thursday as key elections (UK and France) held center stage and investors grew more optimistic about US Fed interest-rate cuts following US economic data that supported the case for easing. US markets were shut due to the July 04 holiday.
Emerging market equities also benefited as the MSCI Emerging Markets Index rose to the highest level in two years on Thursday.
Britain’s Labour Party was headed for a huge majority in a parliamentary election on Thursday, an exit poll suggested, against a gloomy backdrop of economic malaise, mounting distrust in institutions and a fraying social fabric.
Most markets in the Asia-Pacific region were trading lower in absence of cues from US peers, while investors keenly await US non-farm payroll data, due to be published later today.
Raymond Ltd announced demerger of its Real Estate business
Alembic Pharma gets tentative nod from USFDA for tablets used in the treatment of certain types of cancer of bone marrow and bile duct
Zydus Lifesciences gets tentative approval from US FDA for BP lowering drug
Nifty extended its record rally in the second consecutive session on July 04 but ended little changed. At close, Nifty was up 0.06% or 15.7 points at 24302. Nifty could face resistance in the 24380-24401 band while support could come in at 24174-24236 band in the near term.
Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today.
Emerging market equities also benefited as the MSCI Emerging Markets Index rose to the highest level in two years on Thursday.
Britain’s Labour Party was headed for a huge majority in a parliamentary election on Thursday, an exit poll suggested, against a gloomy backdrop of economic malaise, mounting distrust in institutions and a fraying social fabric.
Most markets in the Asia-Pacific region were trading lower in absence of cues from US peers, while investors keenly await US non-farm payroll data, due to be published later today.
Raymond Ltd announced demerger of its Real Estate business
Alembic Pharma gets tentative nod from USFDA for tablets used in the treatment of certain types of cancer of bone marrow and bile duct
Zydus Lifesciences gets tentative approval from US FDA for BP lowering drug
Nifty extended its record rally in the second consecutive session on July 04 but ended little changed. At close, Nifty was up 0.06% or 15.7 points at 24302. Nifty could face resistance in the 24380-24401 band while support could come in at 24174-24236 band in the near term.
Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today.
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