Markets traded firm, but fell towards the closing with indices turning sharply lower towards the fag end of the session. A reasonable negative candle was formed on the daily chart that has partially engulfed previous bull candle. This pattern signals weak upside bounce in the market. This market action also indicates a chance of Nifty revisiting the recent low of 17216 levels, below which we may witness sharp selling pressure in the markets.
U.S. data hinted at stubbornly high inflationary pressures. Minutes from the November Fed meeting show members concerned about inflation and willing to tighten policy should it continue to run hot. The meeting summary noted that the officials would be willing to raise interest rates “sooner than participants currently anticipated.” Asia-Pacific stocks mixed; Bank of Korea announces rate hike.
Stocks in news
Coal India will be investing up to Rs.50,000 crore of capex over the next five years, of which Rs.17,000 crore capex is slated for FY22. Coal India has already spent Capex of Rs.7,000 crore so far in FY22.
Coal India Chairman says Coal Price Increase has Become Inevitable
Reliance Industries to restructure and repurpose gasification assets
Siemens: The company has recommended a dividend of Rs 8 per equity share for the financial year ended September 2021.
Grasim Industries: Life Insurance Corporation of India sold 2.02% stake in the company via open market transactions, reducing shareholding to 9.83% from 11.85% earlier.
Prismx Global To Consider Rights Share Issue
Tata Steel Executes Blockchain-Enabled Sale to Bangladesh Buyer
Apollo Unit Said to Seek $600 Million From Sale of India’s IGT
India Is Said to Permit Serum to Export 5M Vaccines Under Covax
SCO Foreign Ministers to Meet to Discuss Afghanistan on Nov. 25
More Than Half of Indians Surveyed Don’t Want Crypto Legalized
India Extends Free Food Grains Distribution Program for 4 Months
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