CNBC-TV18 Morning Call: Fed rate cut impact on markets, rupee at record low, SEBI new rules for SMEs

CNBC-TV18 Morning Call: Fed rate cut impact on markets, rupee at record low, SEBI new rules for SMEs
dow jones

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The Dow Jones dropped 1,123 points (2.6%) on December 18 after the Fed forecasted only two rate cuts in 2025 instead of four, citing prolonged inflation concerns. This marks its longest losing streak since 1974.

US Federal Reserve

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The Federal Reserve cut rates by 25 basis points to 4.25%-4.5% but surprised markets with a hawkish outlook, signaling only two rate cuts in 2025 instead of the previously forecasted four.

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Fed Chair Jerome Powell dismissed the idea of a central bank Bitcoin reserve, emphasising the Fed cannot hold Bitcoin and any legal changes would be up to Congress.

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Micron Technology’s shares dropped after its Q2 revenue forecast of $7.9 billion fell $1 billion short of estimates, hit by weak demand for smartphones and PCs despite strong AI chip orders.

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Tesla shares fell 8.3% and Broadcom dropped 6.9%, reversing recent gains, as the Fed’s slower-than-expected rate cut outlook dampened market sentiment.

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New Zealand’s economy fell into recession in Q3, prompting expectations of aggressive rate cuts, with markets pricing a 70% chance of a 50-basis-point cut in February. (Image: REUTERS)

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Hong Kong’s stock exchange saw IPO deal values rise after three years of decline, but sustained growth depends on economic recovery and easing geopolitical tensions, said Andy Maynard of China Renaissance. (Image: REUTERS)

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The Nifty is down 550 points in the last three trading sessions. It shed another 140 on Wednesday and closed just below 24,200 and just above 24,190. Thursday is the weekly options expiry session of the Nifty 50 contracts and the last two weeks have shown the kind of extreme swings the market has had on the day of expiry or a day after that. (Image: REUTERS)

CreditAccess Grameen share price

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The rupee hit a record low of 84.96 against the dollar as foreign banks bought dollars ahead of the Fed meeting, despite RBI intervention to limit further depreciation.

mobikwik ipo

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Shares of One MobiKwik, Vishal Mega Mart, and Sai Life Sciences had a strong debut on December 18, with IPO investors making significant gains as the stocks began trading.

DOMS Industries share price

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So far in 2024, 92 IPOs have raised over ₹1.6 lakh crore, with December seeing the highest number in 17 years, as 15 companies have raised ₹24,950 crore.

Asian Paints share price

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Asian Paints executives Shyam Swamy and Vishu Goel resigned due to personal reasons. The company has been facing slower growth expectations compared to peers like Berger Paints and Indigo Paints.

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SEBI has introduced new rules for SMEs, including higher IPO application amounts (₹2-4 lakh) and stricter financial criteria, to protect investors and ensure financial stability before listing. (Image: REUTERS)

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Zaggle Prepaid saw 22.27 lakh shares worth ₹67.3 crore change hands in block deals while DOMS Industries is in focus ahead of a potential block deal. Yatharth Hospital also opened its QIP at a floor price of ₹626.18 per share.

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