Market extended gains on Tuesday with Nifty ending higher by 0.3% but in USD terms remained more or less neutral. The Nifty in USD terms has been trading sideways since mid of September and has formed Head & Shoulder top and a short term breakdown is placed 1.6% lower. Today, all eyes will be on Fed Minutes which will set the tone for tapering adjustment and strength of dollar globally.
The Dow Jones fell for the 3rd session by more than 100 points, the S&P 500 falling 0.2% and the Nasdaq down 0.1% as investors stayed clear of big bets before key economic data and the start of the Q3 earnings season. The IMF revised lower its global growth forecasts for 2021, with the US economy seen expanding 6%, below 7% in July. Gold prices gained, snapping a three-day losing streak, as a downward revision in global growth forecast by the IMF pushed up the demand for the yellow metal.
Stocks in news
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IOC -Report says Co. To Put EV Charging stations
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