Nifty trading on a flater note today

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The trading session for Wednesday ended on a choppy note as Nifty forms another bearish candle after a huge downfall on Monday. Nifty touched the intraday low of 12162 levels and closed the day near it at 12169 down by 0.45 percent. The Bank Nifty index also fell more than 100 points on Tuesday. The market overall is observing a profit booking session since Monday. All the sectoral indices also ended in negative territory excepting the Media sector. Nifty Realty index was down by 1.52 percent and Nifty Auto and Metal indices were the most declined sector down by 1.3 percent each.

U.S. benchmark stock indexes finished lower on Tuesday. The Dow Jones Industrial Average shed 152.06 points, or 0.52%, to 29,196.04, ending its five-day streak of gains. The S&P 500 index SPX, -0.27% fell 8.83 points, or 0.27%, to 3,320.79 and the Nasdaq Composite Index COMP, -0.19% closed down 18.14 points, or 0.19%, to 9,370.81, after briefly turning positive mid-session to set a record intraday high of 9,397.58

A fresh outbreak of Coronavirus has been reported from Asia bringing concerns over there. China says it is taking more steps to prevent the outbreak from spreading via aircraft. Asian markets are mostly higher with Nikkei index gaining more than 100 points for today’s session. HangSeng index also rises more than 200 points today.

Benchmark indices were trading almost half a percent higher on Wednesday, lifted by gains in pharma and auto stocks. The S&P BSE Sensex gained 163 points, or 0.4 percent, at 41,490 levels. The broader Nifty50 index traded above the psychological level of 12,200, up 38 points, or 0.3 percent. Most of the Nifty sectoral indices were trading in the green. Nifty Pharma index, up 0.7 percent, gained the most while Nifty Metal index fell the most, down 0.3 percent.

Crude oil price falls with WTI crude quoting around $58.1/bbl and Brent quoting around $64.3/bbl. Crude-oil prices finished lower on Tuesday as investor worries about rising global supplies and a potential slowdown in global economic growth overshadowed a supply disruption in the Middle East due to unrest in Libya and Iraq.

 

 

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