The BSE sensex closed the shop at 56,747Downby 949 points and the Nifty close the day at 16,909 byloosing 287 points.
On the Upside: UPL
On the downside-Indusind Bank, Tataconsumer, Bajajfinserv, TCS
Tech View:- Morning session indices started trading in negative aspect as due to Weakness in Asia and rising cases of the Omicron variant of Covid-19 in the country are keeping indices in the negative territory. Where; the Sensex, opened 82 points higher at 57,778,After making intra-day high of 58.757, the BSE Sensex loos its momentum and finally settled with a significant loss of 949 points at 56,747. The NSE Nifty slumped to a low of 16,892, and ended 287 points lower at 16,909. The BSE IT index cracked 2.5 per cent. The Energy and Telecom indices were down 2 per cent each. The FMCG, Healthcare, Auto and Realty indices were the other major losers, down over 1.5 per cemt each.
Nifty have formed a strong Bearish sort of candle on daily chart and close below 17000 level where we may see further downfall till the level 16500 in coming few session, Hence;going forward 16700-16800 will act as support level and 17000-17100 will act as a resistance.
European & USA markets: @ IST 6:00 European markets were trading atPosittivenote. Where the Germany’s DAX tradingPosittiveby 0.47 %, Other hand France’s CAC40 indexrunningPosittiveby 0.84% where, England’s FTSE100 indexPositiveby 0.96%.
Where; wall street @ IST 06:00The DOW future contract tradingPosittive233points, S&P 500 Future trading Posittive13points, Where; Nasdaq100 futureNegative67points.
Global News Analysis:
LONDON – The newly-discovered Omicron variant shows policymakers and financial markets cannot lower their guard on COVID-19 and will have to calibrate their policies carefully, the Bank for International Settlements said on Monday.
China’s central bank said on Monday it would cut the amount of cash that banks must hold in reserve, its second such move this year, releasing 1.2 trillion yuan ($188 billion) in long-term liquidity to bolster slowing economic growth.
European stock markets pushed higher Monday, starting the new week on a positive note despite weak German industrial orders amid hopes that the omicron variant of Covid-19 may be less dangerous than previous strains of the disease.
India:-India has been recording rising cases of the new Omicron variant of COVID-19 which has been declared as a Variant of Concern (VoC) by WHO. As of December 5, the country has 21 cases of the variant, 17 of which were detected on the same day only- December 5. The first two cases of the COVID-19 variant were found in Karnataka on December 2. Subsequently, cases.