12730 IS THE NEXT SUPPORT; 13145 IS THE HURDLE
WORLD MARKETS
U.S. financial markets
were closed yesterday due to the Thanksgiving holiday.
Brent crude rose 20
cents, or 0.4%, to $48.81 a barrel while WTI crude was up by 14 cents, or 0.3%,
at $45.85.
Spot gold rose 0.3% to
$1,811.31 per ounce.
In Europe, FTSE fell 0.4%
while DAX and CAC ended marginally in the red.
Meanwhile, questions are
being raised over AstraZeneca’s vaccine candidate, for which the firm said
combined results revealed it to be 70% effective.
AT HOME
After falling half a
percent in the morning, benchmark indices reversed and surged a percent and
half from the bottom of the day to end higher by a percent, recouping two third
of yesterday's losses. Sensex settled at 44259, up 431 points while Nifty added
128 points to finish at 12987. BSE mid-cap and small-cap indices rose 0.9% and
0.7% respectively. Except 0.2% lower Oil & Gas index, all the BSE sectoral
indices ended in green with Metal index on the top, up 4.1%, followed by 2.2%
higher Basic Materials index.
FIIs net bought stocks
and stock futures worth Rs 2027 cr and 2537 cr respectively but net sold index
futures worth Rs 117 cr. DIIs were net sellers to the tune of Rs 3400 cr.
Rupee appreciated 3 paise
to end at 73.88/$.
For the November
derivative series, Nifty climbed 11.3%.
OUTLOOK
Today morning, Asian
markets are trading mixed with modest changes and SGX Nifty is suggesting a
marginally higher start for our market.
In yesterday's report we
had said that 12820 was the immediate support, upon breach of which, 12730, the
bottom made last week, would be the next support to eye.
Nifty, after touching a
low of 12790, rebounded smartly to end at 12987.
12730, the low made last
week, continues to be next important support to eye.
13145, the top made
Wednesday, continues to be immediate hurdle.
India's Q2 GDP reading
will be released today and is expected to show a contraction of 8.9%. In Q1,
GDP had contracted 23.9%.
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