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NEW DELHI: After profit booking went unabated for the fourth consecutive session on Friday, domestic headline equity index Nifty breached the crucial support level of 15,000 and formed a bearish candle for the day. On the weekly scale, the 50-pack index formed a Bearish engulfing pattern as it retraced below the 15,000 mark after 10 sessions.
Chandan Taparia of Motilal Oswal Securities said as long as the index remains below 15,150 level, it would continue to see weakness and head towards its next key support at 14,800 and 14,700 levels. On the upside, he said, hurdles are seen at 15,250 and 15,400 levels. Profit taking was evident throughout the day as we witnessed several pivotals succumbing to selling pressure as traders feared rising Covid cases in Maharashtra. The PSU bank index which rose 12 per cent in the last two days shed 5 per cent today, said S Ranganathan, Head of Research at LKP Securities.
US stocks scale new peak on recovery bets
Wall Street s main indexes hit all-time highs on Tuesday, with investors piling into economically sensitive stocks on hopes of more fiscal aid to lift the world s biggest economy from a coronavirus-driven slump. The Dow Jones Industrial Average was up 110.66 points, or 0.35%, at 31,569.06, the S&P 500 was up 13.86 points, or 0.35%, at 3,948.69, and the Nasdaq Composite was up 55.97 points, or 0.40%, at 14,151.45.
European shares hover near one-year highs
European shares hovered near one-year highs on Tuesday as investors bet a bumper U.S. stimulus package will power global economic growth this year, while Glencore led a rally among mining stocks after reinstating its dividend. The pan-European STOXX 600 was down 0.13% after jumping 1.3% in the previous session to its highest level since February 2020.
US market closed for President s Day
Global shares rose for the 11th day in a row to reach a fresh peak on optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington. However, the US stock markets were closed on Monday for the Presidents Day holiday. E-mini futures for the S&P 500 were trading higher, up 0.4%
European shares rally as mining stocks gain
European shares scaled one-year highs on Monday and mining stocks tracked a jump in copper prices as bets of more US stimulus fuelled optimism around a faster global economic recovery this year. The pan-European STOXX 600 rose 1.30 per cent, with Rio Tinto, BHP Group and Anglo American bolstering the index. Banks and energy stocks were also among the biggest gainers.
US stocks rise as Trump signs fiscal aid bill
Wall Street s main indexes hit record highs on Monday as President Donald Trump s signing of a long-awaited $2.3 trillion pandemic aid bill bolstered bets on an economic recovery, helping financial and energy stocks. The Dow Jones Industrial Average rose 305.4 points, or 1.01% to 30,505.81. The S&P 500 rose 31.0 points, or 0.86% to 3,734.80, while the Nasdaq Composite rose 49.9 points, or 0.38%, to 12,853.95.
European shares cheer post-Brexit trade deal
European shares climbed on Monday for a fourth straight session as relief over long-awaited U.S. economic stimulus and a post-Brexit trade deal lifted investor mood in thin holiday trading. The benchmark European stock index jumped 0.73% to its highest since Feb. 26, with automakers and energy stocks gaining the most.