Expectations High For Indian Markets Following Cyber Monday Deals

In a world where information is king, we are here to provide you with the essential facts before the market opens. To make the most informed decisions, you will need to know the factors that may affect the market. Here are the crucial points to note.

On Tuesday, expectations are high for Indian markets to begin on a positive note. Monday saw a slight dip in U.S stocks, influenced by post-Thanksgiving calm, while the holiday shopping season was in full swing. Retailers, aiming to boost their sales, enticed deal-seekers during Cyber Monday with attractive discounts.

Asian stocks, specifically, are a point of interest. Tuesday saw these stocks rise, but conversely, the dollar hit a three-month low. Investors are seemingly confident that the Federal Reserve has concluded its rate-hike cycle. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.39% increase and is predicted to achieve a near 7% rise in November, marking its best monthly performance since January.

For the Indian stock market, Monday marked a pause due to the celebration of Guru Nanak Jayanti. However, as of Friday, November 24, the domestic benchmark equity indices Sensex and Nifty 50 ended the day flat. This was mainly due to a decrease in information technology.

The Gift Nifty, at 8:20, was trading 21 points or 0.11 percent higher at 9,877, providing a promising start for the Indian markets.

S&P Global Ratings has predicted that India’s economy will grow faster in FY24 than earlier estimated, before slowing down in the subsequent financial year. Regardless, the growth projection for the financial year 2005 was reduced to 6.4% from the prior estimate of 6.9%.

Oil prices saw an increase on Tuesday, halting a streak of losses. This comes before a crucial OPEC+ meeting, which is anticipated to deepen and extend cuts to oil production due to the persistent surplus of supply over demand.

Gold prices reached a more than six-month high on Monday, breaking through the $2,000 per ounce level. This increase was facilitated by a weaker dollar and the expectation of an end to US interest rate hikes.

The currency market was closed on Monday, November 27, due to Guru Nanak Jayanti. However, foreign institutional investors purchased net shares worth Rs ₹2,625.21 crore, while domestic corporate investors acquired ₹134.46 crore worth of stocks on November 24.

This news has drawn considerable attention and raised numerous questions. As of 9 am on November 28, these were the nine essential points to know before the market opened. We have gathered this information from multiple sources to keep our readers well-informed. As soon as we receive more details, we will ensure to update you first. Stay connected for further updates.