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Stock market recommendations: Anand Rathi Shares' Mehul Kothari suggests buying Ramco Systems, Minda Corp, and JSW Infrastructure. Ramco Systems shows reversal potential from support at ₹390, targeting ₹480. Minda Corp is retesting a breakout zone near ₹510, aiming for ₹550. JSW Infra is poised for a breakout above ₹314, potentially reaching ₹340, after forming a double bottom pattern.
Asian equities remained stable as a tentative ceasefire between Israel and Iran eased investor concerns, causing oil prices to drop to multi-week lows. This decline in oil prices has reduced inflationary pressures, potentially paving the way for central banks to consider interest rate cuts. Wall Street and European markets rallied, while the dollar weakened amid cautious optimism.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Wednesday following global cues. While Nifty50 was above 25,100, BSE Sensex was up over 300 points.
Gold price prediction today: Gold rates are declining due to easing Iran-Israel tensions and reduced demand for safe-haven assets. Despite hitting an all-time high last week, gold prices have consolidated, with bearish sentiment emerging. Analysts suggest a 'Sell on Rise' strategy, anticipating a test of downside support levels in both MCX and international spot markets.
The Indian rupee continued its upward trend, gaining 13 paise to reach 85.92 against the US dollar, fueled by optimism surrounding a potential ceasefire between Israel and Iran and positive momentum in domestic equities. However, the rupee's gains were partially offset by a slight increase in global oil prices and ongoing outflows of foreign funds.
2025/07/01 05:32:26
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