Mumbai47 minutes ago
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On Wednesday, November 12, the third trading day of the week, the Sensex rose by 500 points and is trading beyond 83,300. Nifty is also up by 150 points. It has reached the level of 25,850. In today’s business, maximum buying is in IT and banking stocks.
3 reasons for market boom
- India-US trade deal expected: US President Trump said on November 11 that America and India are very close to a trade deal. This will strengthen economic and security relations and promote investment. This has increased the confidence of investors.
- Shutdown likely to end: The US Senate passed a bill to restore federal funding, paving the way to end the longest shutdown in US history. This will provide clarity on delayed economic data (such as non-farm payrolls) and direction on Federal Reserve policy.
- Interest rate cut expected: Another rate cut by the Fed is likely in December. Fed Governor Stephen Miron said a cut of 50 basis points could happen. Because inflation is decreasing and unemployment is gradually increasing.
Mixed business in global market
- In Asian markets, Japan’s Nikkei index fell 0.34% to 50,667 and Korea’s Kospi rose 0.81% to 4,139.
- Hong Kong’s Hang Seng index rose 0.63% to 26,865 and China’s Shanghai Composite index fell 0.23% to 3,993.
- On November 11, America’s Dow Jones closed at 47,927, up 1.18%. At the same time, Nasdaq Composite fell 0.25%. The S&P 500 closed 0.21% higher.
Sensex closed 336 points higher on Tuesday
On Tuesday, November 11, the second trading day of the week, the Sensex rose 336 points and closed at 83,871. Nifty also rose by 121 points, reaching the level of 25,695.
There was a decline in the market during trading. Then, Sensex recovered 600 points and Nifty 200 points from the day’s low. 24 out of 30 Sensex stocks closed higher.
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