Market Update
Key market barometers snapped three-day losing streak on Wednesday. After slipping below 11,950, the Nifty reversed trend to end above 12,000 mark. Shares bounced back in late trade, boosted by news reports that the U.S. and China were edging closer to a trade deal. Following the news reports, the US Dow futures jumped 135 points. Fresh U.S. tariffs on Argentina and Brazil as well as threatened duties on French goods also spoiled trading sentiment. Investors remained cautious ahead the Reserve Bank of India’s policy statement due on Thursday.
Global Markets
South Korean battery maker SK Innovation has signed a six-year deal to buy up to 30,000 tonnes of cobalt from miner Glencore, allowing it produce batteries for 3 million electric vehicles.Stocks extended gains in Europe while U.S. equity futures turned higher after a news report that China and America were moving closer to a trade deal.
Nifty Chart
The Nifty 50 index closed at 12037.30, gain +43.10 points 0.36% on 04.12.2019. Nifty Support : 11990 and 11930 Resistance : 12070 and 12120.
