Market Commentary

Daily Markets Wrap - Dec 2, 2022 - HDFC Securities

Posted On : 2022-12-02 18:41:57( TIMEZONE : IST )

Daily Markets Wrap - Dec 2, 2022 - HDFC Securities

Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty snapped an 8 day rally on Dec 02 and closed 0.62% or 116.4 points lower at 18696.1. However it did not close at the intra day low. Global stocks were cautious on Friday, after recent sharp gains as traders awaited the monthly US jobs report for clues on the Federal Reserve's next policy steps and worries about economic growth resurfaced in Europe. Gains over the past few days are being digested and markets are looking at fresh data points to decide the further direction. Realty stocks performed well in India due to a broker upgrade. Auto stocks came under profit taking post the monthly sales numbers. Over the week, Nifty gained 0.99%. Nifty could face resistance in the 18758-18888 band while 18462-18529 band could offer support in the near term.

Source : Equity Bulls


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