![]() That came after the S&P 500 saw its third consecutive day of losses, the longest run of losses since October.Īfter a surge in long-dated debt earlier in the day caused the 10-year yield to drop to 4.1%, its lowest level since August, Treasury bonds were essentially flat on Thursday. Commodity prices plummeted, led by oil.Īustralia's and Japan's stocks started to trade lower, and futures contracts for benchmarks in Hong Kong declined as well. On the other hand, a move above 21,000 might trigger a resumption of the bullish trend.Īlso Read: Day trading guide for stock market today: Six stocks to buy or sell on Thursday - December 7Īccording to Bloomberg report, Asian stocks reflected Wall Street's weakness, and Treasuries steadied after a rally signalling softness in the labour market based on new data. The support lies at 20,850, below which the market may witness a healthy correction in the short term. The bearish formation around the crucial resistance of 21,000 amplifies the bearish sentiment. It is up 14.45 points from Wednesday's close on Nifty Futures and amid mixed global cues.Īccording to Rupak De, Senior Technical analyst at LKP Securities, the index formed a hanging man pattern on the daily chart, suggesting the possibility of a bearish reversal. The Gift Nifty is trading around 21,055 level as compared to the Nifty futures’ previous close of 21,040.55. Further, lingering El Nino risks, a drop in reservoir levels, and reduced sowing may hold RBI to profoundly upgrade H2FY24 growth and reduce future inflation estimates," added Nair. "Despite a promising outlook, short-term profit booking may occur due to domestic premium valuation concerns. A strong rebound in IT, driven by reduced US recession risks and in anticipation of robust summer demand, fuels the momentum in the power sector. The allure of Indian market gains post-China credit rating downgrade and decline in oil prices was followed by ease in geopolitical tensions. ![]() A robust FII reversal is fuelled by receding inflation and dropping yields in both US and Indian markets. The 30-share BSE Sensex ended 357.59 points higher or 0.52% at 69,653.73, while the NSE Nifty 50 rallied 82.60 points, or 0.4%, to close at 20,937.70.Īlso Read: Nifty 50, Sensex today: What to expect from stock market indices in trade on December 7Īccording to Vinod Nair, Head of Research at Geojit Financial Services, post-state elections, market optimism thrives, confirming policy continuity and meeting investor expectations. ![]() "Exciting news! Mint is now on WhatsApp Channels □ Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! ![]()
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