Market Update
Key equity market barometers corrected on Friday on worries of slower economic growth in the September quarter. Rising uncertainty over a US-China trade deal also kept sentiment in check. After hitting an intraday low of 12,017.40, the Nifty index managed to close above the 12,050 level. Mid and small-cap stocks bucked weak market trend. All the sectoral indices ended in the red led by the metal, auto, pharma, PSU bank, FMCG, IT and infra.
Global Markets
The cost of cars equipped with ultra-fast 5G wireless technology is likely to go up if microchip supplier Qualcomm Inc’s patent licensing practices fail to change. Stocks fell on a holiday shortened trading day ostensibly because of new worries about the long-awaited phase one U.S.-China trade deal. The S&P 500 and Dow Jones industrials fell 0.4%. The Nasdaq Composite dropped 0.46%. The Nasdaq 100 dropped about 0.5%.
Nifty Chart
Nifty Outlook
The Nifty 50 index closed at 12056.05, lost -95.10 points -0.78% on 29.11.2019. Nifty Support : 12010 and 11960 Resistance : 12115 and 12150.
