Market Commentary

Daily Markets Wrap - Nov 28, 2023 - HDFC Securities

Posted On : 2023-11-28 21:26:54( TIMEZONE : IST )

Daily Markets Wrap - Nov 28, 2023 - HDFC Securities

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

Nifty ended higher on Nov 28 aided by a sharp rise post 1400 Hrs. At close, Nifty was up 0.48% or 95 points at 19889.7. Volumes on the NSE were on the higher side. Broad market indices rose less than the Nifty even as the advance decline ratio remained firm at 1.12:1.

Shares were mixed in Asia on Tuesday after US benchmarks edged lower as investors waited for updates on inflation and how American consumers are feeling about the economy. European stocks were lower on Tuesday, continuing to trade in a subdued manner ahead of the release of the week's key inflation data. ECB President Christine Lagarde said on Monday the bank's fight to contain price growth is not yet done.

Nifty broke out upwards after a gap of almost 6 weeks. It made a new swing high and made higher lows for the last few sessions. It could now head up towards 19980-20115 band while 19765-19811 band could offer support on falls. Rise in Nifty accompanied by high volumes suggest return of FPIs on the buy side.

Source : Equity Bulls


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