MARKET VIEW
GLOBAL MARKETS
Dow Jones rose 528.58 points, or 1.58%, to 34,005.04.
S&P 500 gained 56.18 points, or 1.43%, to 3,990.56.
Nasdaq Composite gained 139.12 points, or 1.26%, to 11,143.74.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.17% while Japan’s Nikkei and Seoul’s KOSPI index were 0.32% and 0.01% higher respectively. Australian shares rose 0.34%.
Brent crude oil jumped 1.12%, trading at 79$ per barrel.
INDIAN MARKETS
CPI inflation slumps to 11-month low of 5.88% in November India’s CPI retail inflation rate slumped to an 11-month low of 5.88 percent in November from 6.77 percent in the previous month.*
Sensex fell 51 points to 62,130, while the Nifty50 gained 0.60 points at 18,497 and formed a bullish candle on the daily charts as the index recouped opening losses and closed much higher than opening levels. Banknifty shows strength and closed positive by 0.2% up near the levels of 43700.
The sectors which outperformed were PSUBank, Metal, Energy and sectors which underperformed were IT, Pharma.
Foreign institutional investors (FIIs) sold shares worth Rs 138.81 crore, while domestic institutional investors (DIIs) bought shares worth Rs 695.60 crore.
TODAY’S VIEW
The market is expected to open flat as trends in the SGX Nifty indicate a muted start for the broader index in India with a gain of 44 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,388, followed by 18,346 & 18,279. If the index moves up, the key resistance levels to watch out for are 18,522 followed by 18,563 and 18,631.