At first glance, it appears that the bulls are not ready to let go, as the market benchmarks did not see much consolidation since the beginning of November.After each session of fall, the market resumed its uptrend. Equity benchmarks the Sensex and the Nifty rose about a percent each in the first half of the December 1 session.Brokerages say positive news from vaccine manufacturers, improving macroeconomic indicators and strong September quarter earnings triggered a risk-on rally.Close “Global markets shrugged off any concerns over a second wave of COVID-19 in Europe and the increasing case count in the United States. The positive news flow on the efficacy of Moderna, Pfizer and Astra-Zeneca vaccines resulted in full risk-on sentiment,” said brokerage firm Kotak Institutional Equities. related news Investors eye 13,500 on Nifty: 10 trading suggestions by experts for December series November best month for US stock market in 30 years, says Mohamed A El-Erian Indian markets have done the same. The risk-on sentiment resulted in a large FII inflow into Indian equity markets and the Nifty jumped 11.45 percent in November.As the market is near all-time high, analysts advise caution while agreeing that any correction will be an opportunity to add quality… Read full this story
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Risk-on rally keeps market aloft but conditions ripe for consolidation, say experts have 279 words, post on www.moneycontrol.com at December 1, 2020. This is cached page on Business Breaking News. If you want remove this page, please contact us.
