Indian markets rallied in line with positive global cues after US raised debt ceiling till 15 Feb averting government shutdown. Nifty rallied around 1.5% to close above 17400 led by gains from technology stocks. In past two days, Nifty in USD terms has retraced 38.2% in a-b-c form of entire fall and prices still remains vulnerable for Wave 3 sell off as long prices trading below the rising wedge. With appearance of impulse decline setup, we expect resumption of selling pressure on move below 17312 in Nifty Spot.
U.S indices rose sharply higher close on Thursday, recovering ground lost over recent sessions as market participants snapped up bargains while digesting the implications of a shifting pandemic. The Dow Jones Industrial Average rose 617.75 points, or 1.82%, to 34,639.79, the S&P 500 gained 64.06 points, or 1.42%, to 4,577.1 and the Nasdaq Composite added 127.27 points, or 0.83%, to 15,381.32. All eyes will be on Friday’s US November Nonfarm Payrolls. Nonfarm Payrolls in US is forecast to increase by 550,000 in November.
Shares in Asia-Pacific were mixed in Friday morning trade following days of turbulent trading in Asia-Pacific this week as investors continue to monitor the situation surrounding the omicron Covid variant.
- Bharti Airtel Clarify on report of talks to buy stake in Dish Tv: says evaluates various opportunities, acquisitions
- Biocon Gets U.S. FDA approval of its ANDA for Mycophenolic Acid
- Reliance Capital -RBI starts bankruptcy proceeding on RCAPT
- Vedanta Says its unit to avail $800m facilities from Stanchart;
- SEBI relaxes lock-in time for ujjivan founders to merge units
- Jhunjhunwala-Backed Star Health Cuts IPO Size on Tepid Demand
- India, Russia Defense, Foreign Ministers to Meet on Dec. 6
- Putin to Attend Annual India-Russia Summit Dec. 6
- Goldman-Backed ReNew Enters Green Hydrogen With Engineering Ally
- L&T-ReNew eye $2B green hydrogen business in 2-3 years
- India Is Said to Plan $10 Billion Incentive To Woo Chip Makers
- ONGC, Solar Energy Corp. in Pact for Renewable Projects in India
- Sugar Mills in India Halt Signing Export Deals on Price Slump
- Exports viable when rates rise to 21 cents a pound: group
- Swiggy to Invest $700 Million in Instant Grocery Service
- Instamart could reach annual GMV of $1B in 3 qtrs
- 10:30am: Markit India PMI Services for November, prior 58.4
- 10:30am: Markit India PMI Composite for November, prior 58.7
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