The Nifty was down over 11% from its record highs of 26,277 through yesterday’s lows in what has been a correction that has been greater than the length of every decline the market has experienced since the troughs seen in Jun’22. Today, the market jumped 2.4% – the biggest such move since June 5
th – in a move that could have upside ramifications.
Copper Outlook: China’s refined copper output in the first nine months rose 5.4% year-on-year to 10.04 million tons, reflecting stable domestic production. The global refined copper market showed a surplus of 54,000 metric tons in August, down from 73,000 metric tons in July.
Adani Ports share price: Adani Ports (NSE: ADANIPORTS) and Special Economic Zone Limited has recently faced significant fluctuations in its share price, prompting interest from investors and market analysts. As of November 21, 2024, the Adani Ports share price is currently at ₹1,160.70, reflecting a sharp decline of 10.00% from the previous trading session.
Spot Gold buyers are not ready to give up yet, as they fear a change in risk sentiment if US AI giant Nvidia Inc.’s earnings report disappoints and creates a wave of risk aversion in financial markets.
The Indian market is currently undergoing a corrective phase, impacted by the rise in the dollar index following Donald Trump’s victory in the 2024 US Presidential elections, along with continuous outflows from foreign investors and the Middle East crisis.
Silver price remains subdued as PBoC maintained the benchmark interest rate at 3.1% for November. Silver price (White Metal) retraces its recent gains, trading around $31.20 per troy ounce during the Asian session on Wednesday.
