Wednesday, December 4, 2019

Trade deal hopes, possible rate cut on Dec 5 lift sentiment

The Nifty50 recouped losses and closed in the green after three sessions of decline. The index closed above its crucial support placed at 12,000 levels, and above its 5-Days EMA placed at 12,039.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 178 points to 40,850 while Nifty50 closed 49 points higher at 12,043 on Wednesday.

Sectorally, the action was seen in metals, consumer durable, IT, and banking stocks while on sectors that remained under pressure include capital goods, energy, oil & gas, and consumer discretionary.

The broader market performed in-line with benchmark indices – the S&P BSE Midcap index rose 0.5 percent while the S&P BSE Smallcap index was up 0.30 percent,

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