Market Savera Podcast - 30/1/2023
U.S. stocks finished higher Friday, with the technology-heavy Nasdaq Composite booked a fourth straight week of gains, its longest weekly win streak since August.
Indian benchmark equity gauges Sensex and Nifty hit their over three-month lows on Friday, dragged by massive selling mainly in Adani group and banking stocks. At close, Nifty was down by 288 points or 1.61% at 17,604. Above 17,761, resistance for Nifty is seen at 18,000. Below 17,493, Nifty could extend its fall towards the next support of 17,350.
The coming week is full of events. Apart from the balance Q3 corporate results, we have the Union Budget on Feb 01 and the US Fed meeting on the same day. The completion of Adani Enterprise FPO on Jan 31 is another event that could impact the price trends of Adani group stocks.
Indian markets could open mildly higher today.