Market is expected to open gap up and likely to witness positive move during the day - Nirmal Bang Ltd
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Market Review
US: : Major US stock indices ended sharply higher on Monday as investors were optimistic about the start of the earnings season, while transportation and small-cap shares also jumped.
Asia: Asian markets opened higher amid diplomatic efforts to prevent the Israel-Hamas war from expanding into a regional conflict
India: India's benchmark stock indices swung between gains and losses through Monday to extend the decline for the third straight day. Metals, PSU banks and consumer durables rose, whereas the pharma and realty sectors were under pressure Market is expected to open gap up and likely to witness positive move during the day
Global Economy: New Zealand's consumer inflation hit a twoyear low in the second quarter, reducing expectations the central bank will hike the cash rate further in November and prompting a fall in the New Zealand dollar. Consumer prices rose 5.6% year-on-year in the third quarter, slower than the 6.0% increase in the second quarter
German wholesale prices fell for the sixth month in a row in September due to lower prices for mineral oil products, pointing to lower inflation in the coming months. September's wholesale prices fell by 4.1% compared with the same month last year, the biggest drop since May 2020.
Commodities: Gold prices were subdued on Tuesday as U.S. Treasury yields extended gains, ahead of economic data and Federal Reserve Chair Jerome Powell’s speech this week that could steer upcoming interest rate decisions. Oil prices stabilised on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas.
Currency: The U.S. dollar started Tuesday on the back foot as investors took stock of developments in the Middle East and braced for a slew of speeches by central bank officials this week.
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The benchmark equity indices extended their record rally for the second consecutive session ...
![Index is likely to open on a flattish note today and is likely to remain range bound during the day - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![Nifty has an immediate support placed at 24240 and on a decisive close below expect a fall to 24170-24100 levels - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![Indian benchmarks settled at fresh closing highs on Wednesday by Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)