- The
Sensex ended 33 points lower at 62,834 while theNifty50 was higher by 4.95 points at 18,701 on December 5. - Despite a choppy session, the Sensex closed the day above the psychological level of 62,800 and the Nifty50 closed above the 18,700 mark.
- Analysts expect the Nifty50 to reach a $4by December, implying that the index will close the year on a positive note.
- Currently, investors are focused on the ongoing 3-day
RBI policy meeting that started on December 5 and will conclude on December 7 – when a decision on interest rate hikes is likely.
Losses in heavyweights like
The Sensex ended 33 points lower at 62,834 while the Nifty50 was higher by 4.95 points at 18,701 on December 5. However, despite a choppy session, the Sensex closed the day above the psychological level of 62,800 and the Nifty50 closed above the 18,700 mark.
Analysts expect the Nifty50 to reach a $4by December, implying that the index will close the year on a positive note.
“Markets were extremely range-bound with a negative bias with most of the Asian indices too closing on a sluggish note. Investors are keeping a low profile ahead of RBI's credit policy meeting this week, while lack of fresh triggers from global markets too have been a dampener,” said
Amongst the most active stocks today by volume were Reliance Industries, Tata Steel, ICICI Bank, HDFC Bank and Adani Enterprises. Reliance Industries also ended up being amongst the top losers of the day on the Nifty50 index, falling 1.5 %.
Currently, investors are focused on the ongoing RBI’s 3-day Monetary Policy Committee meeting that started on December 5 and will conclude on December 7 – when analysts expect a decision on interest rate hikes and the direction of future increases.
Most of the Asian markets gained on Monday, with Hong Kong’s Hang Seng gaining the most at 4.5%, followed by China’s Shanghai SE Composite Index at 1.8%. Japan’s Nikkei 225 gained 0.15%.
Brent crude oil gained over 1.92%, hovering around $87 per barrel after OPEC+ announced that it would maintain output at current levels.
The Rupee posted a large decline on Monday against the US dollar. It closed 47 paise lower at 81.79.
On the
Source: NSE
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Rupee may hit 80/$ aided by trifecta of softer rates, cooling crude and stronger macros, say analysts>$4