Stock Market Live Updates 12 December 2024: Sensex, Nifty poised for higher open amid positive global cues

Gold prices today: Gold surges past $2,700 amid mixed inflation data and rate cut expectations

Manav Modi, Analyst, Commodity Research, MOFSL

Gold surged past $2700 in yesterday’s session after inflation print came in slightly mixed, however, market participants continued to discount one more rate cut in December’s Fed meeting supporting bullions. The U.S. consumer prices rose 0.3% on a monthly basis in November, data from the Labor Department showed. Annually, it climbed 2.7% after increasing 2.6% in October however, the Core inflation was reported in-line with expectations. Market participants see a 95% chance of one more 25-basis-point cut at the Fed’s Dec. 17-18 meeting, compared with an about 86% chance seen before the inflation report, CME’s FedWatch Tool showed. Distress is also rising amidst geo-political tensions especially in Middle East with Syria also now in picture. Rebel forces took Syria’s capital Damascus ending the reign of President Bashar al-Assad, who fled to Russia. China’s central bank increasing their Gold reserve once again has also supported sentiment. Any change in rate cut expectations could increase volatility in prices. Market participants today will be keeping an eye on US PPI data for further clarity on Fed’s rates decision, scheduled next week

Stock market live today: Veranda Learning to raise ₹250 crore via preferential issue for strategic acquisitions

Chennai-based Veranda Learning Solutions, an end-to-end solutions provider in the education space, will raise ₹250 crore through a preferential issue. The funds raised will be directed toward acquisitions, deferred consideration payouts, and growing its existing business. This preferential raise is part of the broader fundraising plan to be completed this financial year.

Stock market live today: ADB approves $500 million loan to boost India’s sustainable infrastructure

The Asian Development Bank (ADB) on Wednesday approved a $500 million loan to support India’s economic growth by promoting environmentally sustainable infrastructure.

Currency market live updates: China eyes yuan depreciation amid looming US trade tariffs

China’s top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher U.S. trade tariffs in a second Donald Trump presidency. The contemplated move reflects China’s recognition that it needs bigger economic stimulus to combat Trump’s threat of bigger tariffs, people with knowledge of the matter said.

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Stock market live today: Trading guide for December 12, 2024: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

WATCH: Today’s Stock Recommendation: December 12, 2024

Here’s an interesting stock idea: The stock idea that we have for you today is Redington. The stock has been in a strong uptrend since the last week of October. Last week the stock has risen breaking above the 200-day moving average and is gaining momentum. The outlook is bullish. We expect the share price to go up in the coming days. Let us now look at the trade idea for the stock. Check out the latest episode of bl.Today’s Pick to learn more.