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The Market Whisper: Your Weekly Stock Markets Rundown
September 30 - October 4, 2024
thestock whisperers
September 28, 2024
September 30 - October 4, 2024
📈 Market Surge: Indian Indices Break New Records!
Bullish Momentum Grips Indian Markets
Indian benchmark indices shattered records this week, fueled by positive global cues. The US Federal Reserve's 50 bps rate cut set the tone, leading several other central banks to follow suit, hinting that the fight against inflation may be winding down. This optimism pushed the S&P 500, Dow, and Nasdaq to fresh highs, signaling resilience in the US economy, further boosted by a robust jobless claims report.
Meanwhile, investor confidence surged in Asia following China's recent stimulus measures. Stocks across Australia rose, and Japan’s Nikkei index was on track to recoup its losses since the Bank of Japan's rate hike in July.
India's Rate Cut Debate: Will the RBI Follow the Trend?
Amid global rate cuts, RBI Governor Shaktikanta Das faces mounting calls to reduce rates. While some analysts argue that India’s economy shows signs of moderation, others, like Shumita Sharma Deveshwar of GlobalData.TS Lombard, caution that the RBI may not pivot quickly. “The MPC is unlikely to make a sharp pivot in October as internal RBI members remain the same,” she said.
📅 Market Calendar: Key Events This Week
Day | Event |
|---|---|
Monday, Sept 30 | 🇬🇧 UK GDP Growth Rate: Q2 saw 0.6% growth. Final Q2 reading expected. |
🇮🇳 India Infrastructure Output: July saw a 6.1% YoY rise. Data for August to be released. | |
🇨🇳 China Caixin Manufacturing PMI: August rose to 50.4. September figures awaited. | |
Tuesday, Oct 1 | 🇮🇳 India Manufacturing PMI: Preliminary September data points to 56.7. Awaiting final data. |
🇪🇺 Euro Area Manufacturing PMI: September fell to 44.8. Final data awaited. | |
🇪🇺 Euro Area Inflation Rate: August inflation at 2.2%. September flash reading is coming up. | |
🇺🇸 US Manufacturing PMI: Preliminary September PMI at 47. Final numbers awaited. | |
Wednesday, Oct 2 | 🇪🇺 Euro Area Unemployment Rate: July saw a dip to 6.4%. August data to be released. |
Thursday, Oct 3 | 🇺🇸 US Services PMI: September dipped to 55.4 from 55.7. Awaiting final release. |
Friday, Oct 4 | 🇮🇳 India Forex Reserves: RBI reserves surged to $689.4 billion. September 20 data due. |
🇺🇸 US Unemployment Rate: August eased to 4.2%. September figures awaited. |
📊 Global Sentiment
US Economy: Strong job data continues to propel US benchmarks to new highs, showing economic resilience post-pandemic.
Asian Markets: Confidence boosts continue, with China’s stimulus measures keeping the momentum going across the region.
RBI Watch: Will India join the global rate cut trend, or will Governor Das hold the line?
📈 Key IPOs to Watch:
Be sure to track the upcoming IPOs in KRN Heat Exchanger and Manba Finance as Indian equities hit new highs!
💡 Fun Fact:
Did you know? A half-point rate cut hasn’t happened in the US since the 2008 financial crisis!
😊Thank you for subscribing to our Market Wrap-Up Weekly Stock Markets Rundown. Stay tuned for next Saturday.
Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.
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