Category: Market Outlook
30 August 2024
Market Outlook

US stocks ended mixed, Dow gained 0.60% to fresh record highs lifted by names like Intel, GS and Visa, but both S&P and Nasdaq closed flat to lower respectively weighed down by Nvidia that fell more than 6.00% post its earnings. The small cap Russell 2000 gained 0.66%.

USD index traded higher near 101.38, 10 year traded near 3.86% and cboe vix closed lower near 15.65.

Crude futures gained close to 2.00% as worries over Libyan and Iraqi supplies resurfaced. WTI traded above 76, Brent near 80.

Indian indices traded at fresh record highs led by market heavyweight RIL and IT names. Sensex closed above 82000 gaining almost 350 points and Nifty closed above 25150 adding close to 100 points on the last day of August series. Mid and Small cap stocks underperformed the main indices.

*Mixed global equity cues, some consolidation near life highs for the benchmarks may be the order for the day on Dalal Street. Participants may look out for opportunities in stocks that have seen some give backs or consolidation during the last few trading sessions as run away names may see some consolidation giving way for new stocks to lead the next run.*

(3.07 am IST)
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