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Indian markets likely to open higher on Tuesday
U.S. stocks fell on Monday, as investors took a post-Thanksgiving pause as the holiday shopping season gathered pace and retailers lured deal hunters with Cyber Monday deals. You will know everything about Cyber Monday. This is the day when retailers offer good discounts to increase their sales.
Asian stocks are the main focus here. It rose slightly on Tuesday but, on the other hand, the dollar was at its lowest level in three months and investors remain convinced that the Federal Reserve has ended its cycle of rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.39% and was on track for a gain of around 7% in November, its strongest monthly performance since January.
The Indian stock market was not open Yesterday, November 27, says Guru Nanak Jayanti. On the other hand, on Friday, November 24, domestic benchmark stock indices Sensex and Nifty 50 ended flat weighed down by a dip in information technology.
The Gift NIfty was trading at 8:20, up 21 points or 0.11 per cent at 9,877, giving an indication of a positive start for the Indian markets.
S&P Global Ratings mentioned that India’s economy in FY24 will rise at a faster pace than previously projected before taking a slower than estimated course in the next financial year. However, it reduced the growth projection for fiscal 2005 to 6.4% from the previous 6.9%.
Oil prices rose on Tuesday, breaking a multi-session losing line ahead of a major discussion on OPEC+, which is expected to deepen and extend cuts to oil production amid ever-higher supply than demand.
Gold prices hit a more than six-month high on Monday, consolidating above the $2,000 per ounce level, as a weaker dollar and expectations of an end to welfare rate increases in the United States boosted the market.
The foreign exchange market was not open yesterday. On November 27, because of Gurunanak Jayanti.
Foreign Institutional Investors are investors who bought net shares worth ₹2,625.21 crore while domestic corporate investors bought shares worth ₹134.46 crore and bought it on Nov 24.
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Source: vtt.edu.vn