The Nasdaq dipped on Wednesday, halting its previous rally, as investors reacted to heightened Russia-Ukraine tensions and disappointing Target earnings. Meanwhile, the Dow and S&P 500 saw modest gains. Market sentiment was also influenced by anticipation surrounding Nvidia’s earnings, which were released after the closing bell.
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GIFT Nifty down 75 points; here’s the trading setup for today’s session (21-11-2024)
The 23,780-23,800 range will serve as critical resistance for the index. On the downside, the 50-weekly simple moving average (WSMA) is placed near 23,300, which will provide short-term support for the index. Overall, the short-term trend is down till index remains below 23,800, said Hrishikesh Yedve of Asit C Mehta Investment Interrmediates.
Stocks in news: Airtel, Vedanta, Godfrey Phillips, UPL, Adani Enterprises (21-11-2024)
Fitch Ratings has maintained its ‘B-‘ rating for Vedanta Resources Ltd (VRL), the parent of Vedanta, while assigning a positive outlook that signals potential upward momentum.
Asian stocks dip as Nvidia results fail to impress (21-11-2024)
Shares in Japan and South Korea fell alongside Hong Kong equity futures. Contracts for US benchmarks declined Thursday in Asian trading after falling on Nvidia earnings. The chip giant met third-quarter revenue and earnings expectations, but failed to meet the highest estimates for future revenue. Shares in Australia were slightly higher.
UBS joins GS in forecasting gold’s rally isn’t over yet (21-11-2024)
There’s likely to be a period of consolidation due to the stronger dollar and concerns over the potential for more US fiscal stimulus to lead to higher rates before the precious metal starts climbing again, UBS analysts including Levi Spry and Lachlan Shaw said in a note. Bullion would rise a little further, to $2,950 an ounce, by the end of 2026, they said.
Vedanta Resources may raise $1.2 billion to refinance debt (21-11-2024)
The company is in talks with investors to raise $500 million in the coming weeks through a bond issue to partly refinance $606 million of outstanding 13.875% notes maturing in 2028. This is a re-tap of the bonds raised in September and the instrument is likely to be priced around 10.2%, where the bond is trading.
BoB, Axis plan to raise Rs 6,500 crore via bond issues (21-11-2024)
State-run Bank of Baroda will likely offer tier-2 bonds worth ₹3,500 crore for 15 years, while private lender Axis Bank is looking at raising ₹3,000 crore through tier-1 bonds.
Affluent investors too feel the pinch as markets turn wobbly from lofty highs (21-11-2024)
According to data from primeinfobase.com, the value of the portfolios of Radhakishan Damani, Rakesh Jhunjhunwala’s family, Ashish Dhawan and Nemish Shah, among others, fell amid the 10% decline in the Nifty since Sept 27.