FIRST TRADE: Indicators open higher; Nifty at 23,981, Sensex gains 205 points
After a significant decline in the previous day’s trading, the equity indices opened higher on the last trading day of the week which also marks the start of a new December F&O series. During the open, the Nifty was up 0.28 percent or 67.25 points at 23,981.4, while the Sensex was up 0.26 percent or 204.77 points at 79,248.51.
Sectorally, FMCG, IT and Realty traded in the red, while all other indices traded in the green. Media and pharma saw heavy buying action, with both indexes up more than 1 percent at last count,
Prashanth Tapse, Senior VP (Research), Mehta Equities may be weighed down by factors such as Trump’s tax threats, continued US inflation, and uncertainty over the Fed’s rate policy, despite the strengthening of the US economy and improving consumer sentiment . Nifty technical still shows weak buyer interest.
Moreover as NSE introduced 45 new stocks in F&O across sectors such as finance, technology, and renewable energy.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services commented that “the confusing market action in recent days is the erratic volatility in FII activity. Few days of buying followed by yesterday’s massive selling of Rs 11756 crores is difficult to explain. What are the factors contributing to this activity seemingly irrational Is this the end of time?
Asian markets
On Friday, many Asian markets traded in the red as strong local inflation data favored an imminent rate hike from the Bank of Japan. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) traded up 0.22 percent at 578.
