While the downsides at open were expected given the direction of the previous days trend, the upswing thereof found support from the fact that the sluggishness had persisted through the week without major news break setting up conditions for mean reversion move.
Markets have witnessed several challenges in the recent past - Russia Ukraine war, the escalation of Israel Palestine conflict, the invasion of Syria etc. However, these geo-political conflicts affect the commodity supply chain, currency movement and inflation.
Dixon Technologies and Vivo India are forming a joint venture to manufacture smartphones in India. Dixon will hold a 51% stake, while Vivo will hold 49%. This partnership aligns with the Indian government's push for Chinese companies to partner with Indian entities. The venture will fulfill some of Vivo's OEM orders and potentially manufacture for other brands as well.
Indian benchmark indices rallied about 1% on Friday, driven by gains in tech and consumer durables. Shakti Pumps surged 5%, nearing all-time highs, while IOC climbed 2.01% showing signs of recovery. JK Tyre experienced a marginal dip, consolidating near support levels.
The Federal Reserve will lead the pack on Wednesday with markets pricing a 96% probability it will cut rates by 25 basis points to a new range of 4.25% to 4.50%.
Edelweiss ARC had purchased the debt from the lenders of Bilt Graphic under a 15:85 structure, where it had paid 15% upfront and the remainder through security receipts (SRs).
The stock is down 35% this year, placing it among the 20 biggest decliners in the S&P 500 Index. The shares have stabilized over the past month, but investors remain wary. They point to the string of crises in 2024 that shook their confidence in Boeing's prospects and the risk that it will suffer should trade friction build anew under President-elect Donald Trump.
Reiterate buy rating on the back of continued revenue momentum in quick commerce Lower competition and improving margins in food delivery business would largely offset the impact of competition in quick commerce
After showing gradual weakness amidst range movement in last fi ve sessions, Nifty witnessed an excellent upmove from the intraday lows on Friday and closed the day higher. A long bull candle was formed on daily chart with a long lower shadow.
