The market reversed two-rising streak amid broad based selling pressure on Friday. Sentiment was affected after Moody’s cut India’s credit ratings outlook to negative from stable, citing the government’s struggle to lift economic growth and narrow the budget deficit. Investors also mirrored negative global stocks amid uncertainty about the ongoing China-US trade war. Metal, IT and auto stocks witnessed major selling pressure.The Nifty 50 index fell 103.90 points or 0.86% to 11,908.15, as per the provisional closing data.
Global Markets
Alibaba Group Holding Ltd plans to launch a Hong Kong share offering to raise $10 billion to $15 billion in the final week of November.European shares opened lower on Friday, halting a week-long rally after mixed signals on U.S.-China trade left investors uncertain on whether the two sides are really getting close to signing a deal.The pan-European STOXX 600 index (STOXX) fell 0.4%.
Nifty Chart
The Nifty 50 index fell 103.90 points or 0.86% to 11,908.15, as per the provisional closing data on 08.11.2019. We recommend Sell Nifty below 11888 with strict stoploss below 11930 for target 12850 and 11790 in Intraday.
