The Nifty IT index had shed 3% on Wednesday ahead of the US Fed policy decision. Here are the key pivot points to track on top IT stocks with potential upside and downside targets as per charts.
Technical charts suggest that the bias for Gold is likely to remain positive as long as Rs 73,100 holds; while in case of Silver the bullish pivot stands at Rs 89,000.
The BSE Sensex, NSE Nifty can gain another 2% from present levels; while the Nifty IT index could see a sharp 6% rally; suggests technical charts.
He says that a 25-bp cut with a strong dovish message could be as effective as a 50-bp cut with minimal commentary
On the bourses, Mphasis has rallied 26.7 per cent in the last three months, driven by expectations of interest rate cuts in the US and early signs of recovery in the US-BFS sector.
A total of 220 panelists with $590 billion worth of assets under management (AUM)) participated in a survey conducted by BofA Securities between August 2 and August 8
The brokerage firm in a recent report said that the US Federal Reserve may begin rate cuts as early as next month with a 25 bp cut in September, with following rate cuts in November and December of 25
A technical pullback coupled with speculation of an aggressive rate cut by the US Fed has propelled Asian shares on Tuesday morning, says Kranthi Bathini of WealthMills Securities.
Key triggers for market on August 01: The US Fed hinted at a likely rate cut in September citing progress in inflation; Bond yields dipped to near 4 per cent, Gold surged to a record high of $2,500.
The rupee closed at 83.3725 against the US dollar on Friday, up 0.1 per cent for the week
The shifting Fed expectations lifted oil prices and dragged Treasury yields to their lowest in two months after data this week hinted the US labour market was easing
RBI's MPC has sounded caution on sticky food inflation, Goldman Sachs says, owing to supply-side disruptions due to the ongoing hot weather conditions in many parts of India
Officials since that meeting have tamped down expectations for imminent interest rate cuts, which investors now see beginning in September
The 10-year yield was around the crucial 4.60% mark, while the two-year yield, a closer indicator of interest rate expectations was around 4.95%
Pre-market update Thursday, May 02: Why are global markets trending higher post US Fed meeting outcome? All you need to know before the Indian stock market opens for trade today.
Powell's comments further squashed any lingering expectations of the Fed cutting rates in the near term, with markets pricing in September as the new starting point of the easing cycle
FOMC said it is unlikely to start cutting rates without 'greater confidence' that inflation is moving 'sustainably' towards its long-term 2% target
Union Finance Minister Nirmala Sitharaman is set to table the interim budget for 2024-25 on Thursday, February 1
The only concern for the markets, analysts say, is whether the cumulative rate hikes executed across the globe would lead to growth slowdown, or will the global economy recover significantly
Closing Bell on December 12, 2023: Sun Pharma, Maruti Suzuki, Titan, NTPC, Reliance Industries, L&T, M&M, IndusInd Bank were some of the top large-cap losers