Goodwill Investor Education Initiative : GoodWill Eagle’s Eyes!
Markets are in flying mood..Record highs!
Stock Market Live: Indian indices open at a record high on Thursday led by buying across sectors. Majorly, the gains were led by financials, auto and metal indices, however, some selling was seen in IT sector. In intra-day deals, The Sensex rose as much as 335 points to hit a new high of 44,953 while the Nifty added 101 points to its record high of 13,215.
Asia: Stocks in Asia-Pacific were little changed in Thursday morning trade as investors await the release of a private survey on China’s services sector activity in November. In Japan, the Nikkei 225 was fractionally lower in early trade while the Topix index edged 0.13 percent higher. Over in Australia, the S&P/ASX 200 advanced 0.4 percent. Australia’s trade data for October is set to be out around 8:30 a.m. HK/SIN. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.18 percent higher, reported CNBC International.(Image: Reuters)
US: U.S. stock futures held steady on Wednesday evening as investors awaited news on stimulus negotiations and the vaccine approval process. Futures contracts tied to the Dow Jones Industrial Average and the S&P 500 ticked down 0.1 percent, while those for the Nasdaq 100 gained 0.1 percent. The move in futures comes after a relatively quiet day on Wall Street as investors monitored developments in Washington about a possible stimulus bill, reported CNBC International.
Closing Bell On Wednesday: The Indian benchmark equity indices, Sensex and Nifty ended Wednesday’s choppy session on a flat note as gains in metals and auto stocks were countered by losses in financials. The Sensex ended 37.40 points or 0.08 percent lower at 44,618.04 while the Nifty gained 4.70 points or 0.04 percent to close at 13,113.75. Nifty Bank ended over 1 percent lower. Broader indices ended mixed as Nifty Midcap100 gained over 0.4 percent while Nifty Smallcap100 ended flat. Among sectors, Nifty Metal, Nifty Realty, Nifty Auto and Nifty IT rallied the most while Nifty Private and Nifty Financial Services ended in the red.
Crude Oil: Oil prices rose more than 1% on Wednesday as the market awaited a pact from producers on output, which many traders expect will continue to be reined in, and Britain’s approval of a COVID-19 vaccine boosted hopes for a demand recovery. Brent crude oil futures rose 94 cents, or 2 percent, at $48.36 a barrel. West Texas Intermediate crude settled 1.64 percent, or 73 cents, higher at $45.28 per barrel, reported CNBC International.
Rupee: The Indian currency erased early gains and ended near the day’s low at 73.80 per dollar, amid selling trade seen in the domestic equity market. It opened 21 paise higher at 73.45 per dollar against Tuesday’s close of 73.66 and traded in the range of 73.42-72.83.
Pfizer Vaccine Unlikely To Come To India For Long: The United Kingdom has authorised Pfizer and BioNTech’s COVID-19 vaccine, becoming the first country in the world to approve a COVID-19 vaccine for human use. Pfizer had claimed 95 percent efficacy of its vaccine. However, there are multiple reasons why Pfizer vaccine is unlikely to be available in India for long. Firstly, Pfizer has not applied for or done any bridge clinical trials in India. Secondly, the tough storage transport requirement for Pfizer vaccine makes it a difficult one for mass immunisation plans for a country like India. The vaccine needs ultra-cold chain of above minus 70 degrees, which is lacking in India. A third deterrent for now is also the price. With nearly USD 20 per dose, it is costlier than the others under consideration. The Indian government currently is prioritizing vaccines undergoing clinical trials in India.
The markets are scaling new highs and the Bull tamers are in command and hence investors will do well to capitalise the boom and at the same time be defensive on the fall, if any.
