Key domestic benchmarks declined for third straight session on Wednesday. Large-caps witnessed selling pressure due to concerns over stretched valuations. Investors also turned cautious ahead of the Union Budget on 1 February 2020. The Nifty 50 index lost 62.95 points or 0.52% to 12,106.90, as per the provisional closing data. After hitting an intraday low of 12,087.90, the index recovered to close above its 50-day daily SMA placed at 12,104.99.
Bank of America Corp will recruit about 50 bankers for its investment team in Asia this year, as it pushes to bulk up its dealmaking business. Germany’s DAX index posted a record high shortly after the start of trading Wednesday, helped by the improved sentiment emerging from Asia regarding the new pneumonia-like virus in China.STOXX 600 (STOXX) was up 0.2%.
Nifty50 closed low at 12106.90 level, -62.95 points, or -0.52 per cent. Nifty Support : 12050 and 11990 Resistance : 12150 and 12200.
