Tuesday, June 25, 2024

US market declines again and affected Indian market

US market declines again

Share Market Prediction: The US markets registered a decline for the third consecutive day.

Fluctuations can be seen in the Indian stock market amid global signals. On Tuesday, the domestic stock market made a good recovery after the initial fall. The market, which was in decline till the afternoon, closed on the green mark in the last.

The Sensex gained 257.43 points to end at 59,031.30 and gained 86.80 points (0.50) to end at 17,577.50. Bank and IT stocks were the best performers. The PSU Bank index jumped nearly 2.34 percent.

US market declines again

How about the foreign market?

The US markets registered a decline for the third consecutive day. Dow Jones fell 154 points to close at 32,910 on Tuesday. On the other hand, Nasdaq closed flat, slipping 150 points from the day’s high.

There are ups and downs in the Asian market. SGX Nifty is trading at the level of 17565 with a fall of 43 points. Japan’s Nikkei has dropped 45 points. Kospi has a gain of 6.67 percent.

Effect on the market

Crude oil has risen. Crude oil reached a 3-week high. Brent crude jumped by $3 to cross $100. Crude oil prices have risen due to signs of increasing fuel consumption in major economies like China and India.

FIIs/DIIs Data

Amidst the sluggishness in foreign markets, foreign investors have expressed confidence in the Indian stock market. In the last trading session, Foreign Institutional Investors (FIIs) bought shares worth Rs 563 crore in the market, while Domestic Institutional Investors (DIIs) sold shares worth Rs 215 crore. Nevertheless, the market managed to make gains.

NDTV: Adani Group’s media company AMG Media Networks Limited has indirectly offered to buy NDTV. Adani Group will buy a 29.18% stake in NDTV Media Group.

NTPC: Power sector giant NTPC will raise Rs 2,000 crore on Thursday by issuing non-convertible debentures on a private placement basis.

HPCL: As part of its move towards promoting green energy, Hindustan Petroleum has announced a cow dung biogas project in Sanchore, Rajasthan.

Data Patterns: The target price per share is Rs 940. The share price on 23 August 2022 was Rs 845. In this way, investors can get a return of Rs 95 per share or around 11 percent going forward.

J K Cement: The target price per share is Rs 3000. The share price on August 23, 2022, was Rs 2,660. In this way, investors can get a return of Rs 340 per share or about 13 percent going forward.

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