Mon, Dec 23, 2024 1:58 PM
Japan's Nikkei gains on Wall Street's lead; autos, tech shine
A Flip by Avya Verma
Broadcom shares moved higher in early Monday trading, putting the stock on pace for a December gain of around 40%, following another price target boost for the AI chipmaker from a top Wall Street analyst. Broadcom (AVGO) shares topped the $1 trillion mark this month, in terms of market value, as the group continues to benefit from its market leadership in custom AI chips as well.
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After a gap-up opening, the Nifty 50 index traded within a narrow range before closing at 23,753.45, remaining below its 200-day moving average (DMA). The market ended higher but retreated from intraday peaks, breaking a five-day losing streak. Financial stocks outperformed, with the Nifty Bank gaining over 1%.
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With record-breaking revenue collections and special drives to curb fake invoicing, 2024 marked a significant chapter in India’s Goods and Services Tax (GST) regime. Notably, we saw an all-time high GST collection of Rs 2.10 lakh crore in the month of April. But tax reform continues to remain mired in the complexity of multiple rates.GST collections during the year surpassed the Rs 1.7 lakh crore.
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