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.
Nifty formed a small bearish candle with a long lower shadow on the daily chart in Thursday s session. The 50-pack index negated the formation of higher highs and lows of the last nine sessions.
Defensive viz. FMCG, IT and pharma tend to do well during the corrective phase, but traders should maintain caution in the selection of the stocks as we’re seeing selective participation, said Ajit Mishra, VP - Research, Religare Broking.
He also added, Indications are in the favour of some consolidation in the index and it would be healthy for the markets. Nifty has critical support at 13,350 and its breakdown may result in further correction ahead. In the case of a rebound, the 13,550-13,600 zone would act as a hurdle.