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Market
Morning Updates
30th April 2024
by
Devarsh Vakil
Deputy Head,
Retail Research at
HDFC Securities
Indian markets could open mildly
higher, in line with mostly higher
Asian markets today and positive
US markets on Apr 29.
Read more to know why ->
GLOBAL DEVELOPMENTS
All three major U.S. stock indexes ended higher on
April 29, extending Friday's rally at the start of a
week filled with high profile earnings, crucial
economic data and the U.S. Federal Reserve's
monetary policy meeting.
Tesla shares surged 15.3%, after it made progress
in securing regulatory approval to launch its
advanced driver-assistance program in China.
China's manufacturing activity expanded at the
fastest pace in 14 months in April, driven by a solid
uptick in new export orders, a private survey
showed on Tuesday, an encouraging sign for an
economy still struggling to mount a robust recovery.
LOCAL DEVELOPMENTS
KEC International bags orders worth Rs
1,036 crore in India, abroad
Coromandel commences activity to set
up Rs 1000 crore Phosphoric Acid &
Sulphuric Acid Plants at Kakinada
Vesuvius India Q1 CY24 Revenue grew
23.2% YoY at Rs 453.4cr.
MARKET UPDATES
Asian stocks inched higher on Tuesday as investors
awaited a series of economic data, corporate
earnings and the U.S. Federal Reserve's policy
meeting
Nifty erased previous session losses led by Banks
and ended higher on April 29. At close, Nifty was up
1.0% or 223.5 points at 22643.
Bank Nifty made a record high while Nifty is about
120 points short so far.
The short-term uptrend of Nifty seems to have
resumed after one day of weakness. The next
upside levels to be watched are around 22726-
22775 band for the near term. Immediate support is
at 22447.
Wishing you a profitable day ahead.

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Market Morning Updates for 30-April-2024

  • 1. Market Morning Updates 30th April 2024 by Devarsh Vakil Deputy Head, Retail Research at HDFC Securities Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Apr 29. Read more to know why ->
  • 2. GLOBAL DEVELOPMENTS All three major U.S. stock indexes ended higher on April 29, extending Friday's rally at the start of a week filled with high profile earnings, crucial economic data and the U.S. Federal Reserve's monetary policy meeting. Tesla shares surged 15.3%, after it made progress in securing regulatory approval to launch its advanced driver-assistance program in China. China's manufacturing activity expanded at the fastest pace in 14 months in April, driven by a solid uptick in new export orders, a private survey showed on Tuesday, an encouraging sign for an economy still struggling to mount a robust recovery.
  • 3. LOCAL DEVELOPMENTS KEC International bags orders worth Rs 1,036 crore in India, abroad Coromandel commences activity to set up Rs 1000 crore Phosphoric Acid & Sulphuric Acid Plants at Kakinada Vesuvius India Q1 CY24 Revenue grew 23.2% YoY at Rs 453.4cr.
  • 4. MARKET UPDATES Asian stocks inched higher on Tuesday as investors awaited a series of economic data, corporate earnings and the U.S. Federal Reserve's policy meeting Nifty erased previous session losses led by Banks and ended higher on April 29. At close, Nifty was up 1.0% or 223.5 points at 22643. Bank Nifty made a record high while Nifty is about 120 points short so far. The short-term uptrend of Nifty seems to have resumed after one day of weakness. The next upside levels to be watched are around 22726- 22775 band for the near term. Immediate support is at 22447. Wishing you a profitable day ahead.