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Market LIVE: Sensex up 200 points, Nifty eyes 12,950; IndusInd Bank top gainer: SGX Nifty trades higher.
Recovering from a low of 43,453, Sensex ended 282 points higher at 43,882 on Friday while the Nifty closed up 0.7% at 2,859.05.
US pharma giant Pfizer and its German partner BioNTech said Friday they have applied for emergency use authorization for their corona virus vaccine, which could come next month.
Indian indices higher at pre-open buoyed by gains in Asia. Asian equities edge higher on hope of vaccine rollout.
A broad gauge of Asian shares edged up to record highs in early deals on Monday as hopes for imminent coronavirus vaccines buoyed investor sentiment, but worries over the impact of economic lockdowns and uncertainty over US stimulus capped gains, Reuters reported.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.38%, pushing past a previous record high touched on Friday.US stocks closed lower Friday
Wall Street stocks fell on Friday as markets weighed worries about rising coronavirus cases and a surprise US government move to end some emergency lending programmes.
The Dow Jones Industrial Average ended down 0.8% at 29,263.48.
The broad-based S&P 500 dropped 0.7% to 3,557.54, while the tech-rich Nasdaq Composite Index declined 0.4% to 11,854.97.
US pharma giant Pfizer and its German partner BioNTech said Friday they have applied for emergency use authorization for their coronavirus vaccine, which could come next month.
IndusInd Bank soars as RBI panel moots allowing promoters to raise stake
Promoter Hinduja Group may be able raise its shareholding in the private bank to 26% if the Reserve Bank of India accepts the report of an internal working group on the review of extant ownership guidelines and corporate structure of Indian private sector banks.
After a gap-down, the Nifty turned positive but was unable to sustain that for very long. It went back into negative territory but has not broken the support of 12500 which means the trend continues to remain bullish. 13100 still remains an open target which the index can achieve by the end of the November series.
Stocks to Watch
Shares of Reliance Industries, NBFCs, Vodafone Idea, Tata Steel will be in focus today. Bank of Baroda, BHEL, Canara Bank, DLF, Indiabulls Housing Finance, Vodafone Idea, L&T Finance Holdings, NALCO, Punjab National Bank and RBL Bank are under the F&O ban for 23 November.
The SGX Nifty traded at 12,968.20, up 0.6%, indicting a positive start to domestic benchmark indices. Recovering from a low of 43,453, Sensex had ended 282 points higher at 43,882 on Friday while the Nifty had closed up 0.7% at 2,859.05.
Trading activity was thin early in the Asian day, with Japanese markets closed for a holiday. Nikkei futures added 0.16% to 25,785 and Seoul’s Kospi was 0.84% higher.AS the market is highly volatile swinging from minis to plus, investors are advised to use stop-loss for their positions.
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