The BSE Sensex climbed 431.64 points to 44,259.74 on November 26 while the Nifty50 jumped 128.60 points to 12,987. According to pivot charts, the key support levels for the Nifty is placed at 12,845.6, followed by 12,704.2. If the index moves up, the key resistance levels to watch out for are 13,073.2 and 13,159.4.
Asian shares fell slightly on Friday, pulling back from a record high hit earlier this week, amid renewed doubts about a highly-anticipated coronavirus vaccine and concern about the economic impact from the pandemic.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.07%. Australian shares were down 0.15%. Japan’s Nikkei fell 0.09%.
Trends on SGX Nifty indicate a flat opening for the index in India with a 2 points gain. The Nifty futures were trading at 13,047 on the Singaporean Exchange around 07:30 hours IST.
Oil mixed as rally falters over supply concerns, vaccine doubts
WTI was down by 69 cents, or 1.5%, at $45.02 by 0104 GMT. U.S. crude prices did not settle on Thursday due to the holiday. Brent crude was up by 9 cents at $47.89, having fallen 1.7% overnight.
China’s industrial profits rise 28.2% year-on-year in October
Profits at Chinese industrial firms rose 28.2% year-on-year in October to 642.91 billion yuan ($97.79 billion), official data showed on Friday, pointing to a steady recovery in the manufacturing sector after it was hard hit by the COVID-19 pandemic.
Aviation bodies seek airport slots waiver for much of 2021
Global aviation heavyweights led by airline body IATA are pushing to suspend airport slot access rules until October 2021, a document seen by Reuters showed, while giving some ground to budget carriers angered by measures they deem anti-competitive.
After nearly 24% contraction in Q1, all eyes on Q2 data due on November 27
The IHS Markit Manufacturing PMI rose to 58.9 in October, the highest in more than a decade, compared to 56.8 in September, driven by robust sales. State Bank of India (SBI) revised their second-quarter GDP projection to a contraction of 10.7 percent from a contraction of 12.5 percent earlier, according to a research report from SBI Ecowrap.
State Bank of India expects RBI to hold interest rate
State Bank of India expects the country’s central bank to hold interest rates as inflation remains elevated, the chairman of India’s largest lender Dinesh Kumar Khara said. “The stance will continue to remain accommodative but they may not be in a position to cut interest rate in immediate future,” Khara said.
Dollar poised for weekly losses on improving risk sentiment
The dollar held steady in thin trade on Friday but was on track for weekly losses against a basket of major currencies as it remained under pressure on improving risk appetite. The U.S. dollar index was steady at 92.03 against a basket of major currencies, treading water around a near three-month low of 91.84 it hit overnight.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 2,027.31 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 3,400.1 crore in the Indian equity market on November 26, as per provisional data available on the NSE.