Sensex, Nifty LIVE Updates on December 4: Market indices opened on a bullish note on Friday, amid positive global equities. Sensex was rising 150 points higher at 44,812 and Nifty gained 50 points higher at 13,190. The market is expected to trade sideways ahead of the outcome of the Reserve Bank's policy meeting today. The MPC is likely to keep the repo rate unchanged. Yesterday, Sensex ended 14 points higher at 44,632 and Nifty gained by 20 points to hit 13,133. During the last session, Sensex touched a lifetime high of 44,953 and Nifty hit an all-time high of 13,216. Global equities were buoyed today amid positive macroeconomic data flow from China, US coronavirus stimulus negotiations, and developments on the COVID-19 vaccine front.
Here's a look at the updates of the market action on BSE and NSE today
9. 32 AM:Opening session
Market indices opened on a bullish note on Friday, amid positive global equities. Sensex was rising 150 points higher at 44,812 and Nifty gained 50 points higher at 13,190. The market is expected to trade sideways ahead of the outcome of the Reserve Bank's policy meeting today. The MPC is likely to keep the repo rate unchanged.
9. 21 AM: Nifty Outlook
Geojit Financial said,": 13230/13380 remains the near term objectives, but the patterns as well as oscillators call for volatility or a turn lower, before a sustainable upside is seen. Towards this end, any dips to 13000-12840 could be dismissed as volatility, keeping the uptrend intact, but a direct fall below the same could change all that, with first downside objective being the 12300s."
9. 10 AM: Market outlook
Reliance Smartmoney Reserch said in its report:" NSE-NIFTY ended on a flat to positive note for straight second trading session in a row. Yesterday, the index remained in pressure right from the beginning amidst higher level profit booking and formed a bearish reversal pattern-Hanging Man on the daily chart. In the bull-run, such kind of decline provides good entry opportunity. Hence, near-term decline is unlikely for the index. The index has potential to test 13,400 and 13,500 levels. On the lower side, the index will find support at 13,000 and then at 12,800 levels.
As for the day, support is placed at around 13,022 and then at 12,930 levels, while resistance is observed at 13,167 and then at 13,220 levels."
8. 50 AM: Global markets
Global equities were buoyed today amid positive macroeconomic data flow from China, US coronavirus stimulus negotiations, and developments on the COVID-19 vaccine front.China's Caixin/Markit services Purchasing Managers' Index for November released Thursday came in at 57.8, rising from October's reading of 56.8. PMI readings above the 50 mark signify expansion, while those below that level represent contraction
8. 40 AM: Rupee Closing
On the currency front, the Indian rupee closed 12 paise lower at 73.93 per US currency after a range-bound trade as investors remained cautious ahead of the RBI policy meet outcome.
8. 30 AM: Last closing
Yesterday, Sensex ended 14 points higher at 44,632 and Nifty gained by 20 points to hit 13,133. During thre last session, Sensex touched a lifetime high of 44,953 and Nifty hit an all-time high of 13,216.