Tuesday, November 5, 2024

 Waaree Energies shares rallied 20% today, now up 138% from issue price...


The benchmark Nifty climbed above the 24,100 level, while the Sensex gained more than 400 points, backed by banks and metal stocks. The Nifty dropped as much as 0.5 percent to an intraday low of 23,842.75 before rebounding to a high of 24,218.40, up 1.5% from the day’s low.

The benchmark indices had declined in the morning trade today amid constant foreign fund outflows and cautious investors’ sentiment ahead of the US presidential elections outcome and the Federal Reserve interest rate decision.

All eyes are on the US Presidential elections, and equity markets globally are seeing heightened volatility because of the uncertainty surrounding the poll outcome. The impact of the uncertainty can be gauged from the fact that the Indian benchmark Sensex fell as much as 1,500 points during intra-day trading on November 4.

While the poll outcome is uncertain, Sheetal Malpani, Chief Investment Officer and Head of Equity at Tamohara said that some capital is moving back to the US as the dollar strengthens on hopes of a Trump victory.

Foreign investors pulled out a massive Rs 94,000 crore from the Indian stock market in October, making it the worst-ever month in terms of outflows. In November, the trend remains unabated, with FIIs offloading equities worth Rs 4,329.79 crore on Monday.

Analysts view US Presidential candidate Donald Trump’s stance on tariffs as a significant challenge for emerging markets. While China is likely to be Trump’s primary target, India could also feel the impact. His hardline approach to import tariffs and corporate tax cuts may benefit US markets in the short term but could pressure emerging economies.

Donald Trump banned high-tech exports to China during his 2017-2021 presidency, citing unfair trade practices and national security.

In the past week, Nifty has fallen 1.5 percent and Sensex has fallen 1.62 percent. In the case of the Sensex, the benchmark is currently down more than 7,200 points from its all-time high of 85,978 touched on September 27. On Monday, the Sensex had fallen nearly 1,500 points during intraday-day trading before partially recouping the losses to close lower by 942 points.

Always Trust And Trade With #A3RT @arbindtiwariT

No comments:

Post a Comment

  #Palantir shares surge to record as AI boom powers forecast raise Today Almost Up 21% Trading Near 50 CHECK MY TWITTER I HAVE RECOMMENDED...