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The Dow Jones Industrial Average rose 302.86 points, or 1.02% to 29,941.01. The S&P 500 opened higher by 36.20 points, or 1.00%, at 3,657.83, while the Nasdaq Composite gained 80.77 points, or 0.66%, to 12,279.51.
December is the best average month going all the way back to 1994, says Deepak Shenoy, Founder, Capital Mind.
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Foreign institutional investors (FIIs), who had already pumped in $8.3 billion or Rs 61,764 crore in Indian shares in November, its highest such net monthly investment ever, continued to be net buyers on the first day of December as well, and infused a net of Rs 3,242 crore in the equity market.
The initial share-sale consists of fresh issue of equity shares to the tune of Rs 60 crore and an offer for sale of 90,15,000 equity shares by existing shareholders, as per the draft papers red herring prospectus.
The platform called CRO Circle was formally launched on Tuesday and intends to become a regular meeting ground for chief risk officers of companies and risk management professionals to meet and debate potential risks, possible responses and share learnings from existing challenges.
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Nifty has to hold above 12,950 level to witness a bounce towards 13,250 level, while on the downside major support exists at 12,800 level.
A close observation of last 10 sessions suggests Nifty50 is struggling around the upper boundary of the 40-day-old ascending channel, which is in progress from its September low of 10,790 level, said Mazhar Mohammad of Chartviewindia.in.
Burger King’s management expects 70 per cent growth from existing markets and 30 per cent growth from new markets.
“We believe that this optimism can sustain in the near term with a shift towards mid and small caps, led by lag effect,” Vinod Nair, Head of Research at Geojit Financial Services, said.
Normally, equity futures trade at a premium to the underlying spot price — called cash and carry arbitrage. That is because the futures price equals spot price plus cost of carry, which is nothing but the interest rate to fund the purchase of shares minus dividend earned.
This is how the 30-pack Sensex moved in today’s session. It touched a high of 44,730.79 and a low of 44,118.10 to finally settle at 44,655.44
CLOSING BELL: Sensex…
Go to the news source: Traders’ Diary: Nifty has major support at 12,800 level