1 month ago
Nifty Flat as Fed Decision Spurs Market Uncertainty
On July 30, 2024, the Indian stock market started the day with no big changes.
The Nifty 50 index, which shows how many big companies are doing, stayed about the same.
The U.S. Federal Reserve said it would keep interest rates the same, but its chairman talked about fighting inflation, which made investors a bit nervous.
Because of this, markets in Asia moved up and down a lot.
A trader from HDFC Securities, named Nagaraj Shetti, said that two companies, Aether Industries and Supreme Industries, look like good buys for the next week.
He thinks their stock prices might go up soon.
Indian Nifty 50 opened flat at 24,249.55 on July 30, 2024.
Fed Chair Kevin Warsh signaled continued inflation control, causing market uncertainty.
Asian markets saw volatility after U.S. equities and dollar fell post-Fed meeting.
Nifty 50 broke key resistance at 24,000, targeting 24,500‑24,600 in short term.
HDFC Securities analyst Nagaraj Shetti recommends buying Aether Industries and Supreme Industries.
- Who
- Investors, HDFC Securities analyst Nagaraj Shetti, Fed Chair Kevin Warsh
- What
- Indian stock market opened flat; Nifty 50 broke key resistance; Fed decision kept rates unchanged
- Where
- Indian stock market, Nifty 50 index, BSE Sensex, Asian markets
- When
- Thursday, 30 July 2024
- Why
- Fed’s commitment to controlling inflation and market uncertainty
Key facts
- Date
- 30 July 2024
- Index
- Nifty 50
- Opening value
- 24,249.55
- Fed decision
- Rates unchanged
- Analyst
- Nagaraj Shetti
Sources
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