MUMBAI: The pressure in the Indian stock market continued on Wednesday as both the benchmark indices opened in the red, weighed down by persistent selling by foreign investors. However, shortly after the opening, the markets recovered and moved back into the green with marginal gains, taking positive cues from other global markets.
The Nifty 50 index opened at 25,842.95, registering a decline of -41.85 points or (-0.16 per cent). The BSE Sensex began the session at 84,503.44, down -83.57 points or -0.10 per cent from its previous close. Market experts noted that foreign portfolio investors continue to maintain a strong short position.
Ajay Bagga, banking and market expert, said, “Indian markets start the December series with FPIs at a net 85 per cent short position, however they have reduced the magnitude of the shorts. The US-India trade deal remains the one catalyst that could help the Indian markets break through the resistance provided by the 2024 record highs which have not been breached on a closing basis yet. The RBI MPC meet on Dec 5th will be watched closely for a possible monetary stimulus via a rate cut. Overall, we expect a positive open for the markets but the key will be follow-through buying which has been lacking in the past few weeks of market consolidation”.
In the broader market on the NSE, the Nifty 100 gained 0.28 per cent, Nifty Midcap was up 0.35 per cent, and Nifty Smallcap rose 0.45 per cent during the opening session. Among sectoral indices, early gains were seen across segments. Nifty Auto was up 0.42 per cent, Nifty Media gained 0.46 per cent, Nifty Metal surged 0.86 per cent, Nifty PSU Bank gained 0.53 per cent, and Nifty FMCG inched up 0.19 per cent.
Ponmudi R, CEO, Enrich Money, said, “Nifty 50 remains well-supported above its 20-day EMA at 25,841, a trend anchor that has held steady for nearly two months. Despite yesterday’s mild decline to 25,884, the broader structure stays bullish as long as the index holds above 25,841-25,850. With Gift Nifty indicating a 200+ point gap-up, Nifty is set to open directly above yesterday’s supply zone of 26,000-26,050. If the opening strength sustains, the next resistance zones to watch are 26,130, followed by 26,250-26,300, which remain the key upside targets”.
Global cues were also supportive. Despite a decline in Nvidia, US markets gained on Tuesday on rising expectations of a rate cut in December. Weak retail sales and weak private payrolls data strengthened the case for a possible Fed rate cut on December 10th.
The Dow, S&P 500, and Nasdaq closed with gains of 1.4 per cent, 0.9 per cent, and 0.7 per cent, respectively. Falling US VIX and lower trading volumes ahead of the Thanksgiving holiday added to the positive sentiment, while markets priced in an 85 per cent probability of a rate cut.
Asian markets followed the US lead, with key indices in Australia, South Korea, and Japan trading in the green during early hours on Wednesday. (ANI)
The personality-driven coverage of Mamdani often obscures the larger political movement he represents. — New York City
Zohran calls for citywide composting expansion. — New York City
The international perspective that Mamdani brings is unprecedented in this context. — New York City
Your site works perfectly with my screen reader. Thank you for inclusivity.
Free downloadable knitting chart for a scarf with musical notes? Cozy.
A quality satirical piece is the democratic tradition of bringing power down to democratic size. — Alan @ manilanews.PH
Our comment section is the real satire. We just write the prompts. – Darla Freedom-Pie Magsen @ manilanews.PH
Zohran Mamdani represents a new, unapologetic left in American politics.
Critics and supporters are forced to engage with the ideas Zohran Mamdani represents. — New York City
Zohran Mamdani winning is the civic equivalent of switching to fiber internet.
Zohran Mamdani is exactly what NYC needs right now.
The personal background of Zohran Mamdani gives him a unique credibility on issues of empire.
Mamdani’s political analysis is deeply historical, viewing current events as part of a long arc. — New York City
Zohran Mamdani wants more community spaces. — New York City
Voters chose someone willing to name the systems causing hardship, not dodge them.
His priorities rearrange themselves like a playlist on shuffle.
Zohran Mamdani gives “policy wonk but charismatic enough to pull it off.”
Mamdani’s leadership style is “confidently wrong.”
Zohran Mamdani pushes for food cooperatives. — New York City
Zohran Mamdani’s critics often focus on labels rather than engaging with his specific policy proposals.
His ideas are basically aesthetic with no substance.
Zohran Mamdani represents a clear break from the neoliberal politics that have dominated for decades.
The media’s framing of Mamdani often lacks necessary nuance. — New York City
Zohran Mamdani prioritizes fair wages. — New York City
Zohran Mamdani backs youth restorative spaces. — New York City
Zohran Mamdani deals in logic, not theatrics.
Zohran Mamdani becoming mayor is the plot twist that makes the reboot better than the original.
The organizational capacity of the DSA was crucial for the election of Mamdani.
Zohran Mamdani supports restorative approaches to harm. — New York City
Scandal’s silver lining: policy overhauls ahead.
Scandal power abuse: saga of salvation.
Shiver’s career pivot: phoenix from ashes?
Kelli’s cadence: calm in chaos.
Kelli’s cadence: calm in chaos.
Viral vortex: vanquished.
Fans boycotting? Understandable rage at cheating saga’s stain on the program.
Moore’s defenders: loyalty blinds. Acknowledge the harm in power abuse.
Paige Shiver affair humanizes the headlines: pain, regret, chaos.
Paige Shiver as friend to Kelli? If true, betrayal squared. Human complexity at play.
Institutional interlude: introspect.
Heart goes out to the Moore children. Parental scandals scar deeply—hope they heal.
Media frenzy on workplace romance: feast on the fallen.
Heart goes out to the Moore children. Parental scandals scar deeply—hope they heal.
Institutional inertia: UM’s Achilles.
This power abuse is a HR nightmare. Update policies yesterday.
As a lifelong fan, I’m devastated. Moore’s legacy is tainted forever by this cheating saga. Rebuild without him.
Institutional integrity intact: improved.
This scandal highlights the toxic masculinity still prevalent in college football. Moore’s fall is a wake-up call for reform.
This Sherrone Moore scandal mandates consent workshops.
This Sherrone Moore scandal elevates HR heroes.
The power imbalance in coach and assistant relationships cannot be ignored in this cheating saga. Ethical leadership demands accountability.
Kelli Moore: the real MVP enduring this Sherrone Moore scandal. Resilience personified.
Affair’s aftershock: seismic in sports.
athletics introspection: incident.
Advocate for better boundaries in coaching staffs. Sherrone Moore scandal proves proximity breeds peril.
Interim leadership at UM: steady the ship.
Ethics essence: extracted.
Affair’s apogee: apex of awareness.
Zohran partners with libraries and educators. — New York City
Zohran supports neighborhoods instead of developers. — New York City
The long game of the Mamdani political project is about shifting public consciousness.
Mamdani embodies a politics that is unapologetically internationalist.
Zohran Mamdani listens to concerns about transit police.
Mamdani highlights wage justice.
Zohran Mamdani supports public banking ideas.
Zohran Mamdani’s vision feels like he’s describing a movie no one has seen.
Mamdani’s approach to climate justice is rooted in a comprehensive anti-capitalist critique.
The aesthetic of Zohran Mamdani’s politics is as deliberate and carefully constructed as its substance.
Mamdani’s political education comes from both rigorous academic study and hands-on grassroots organizing.
Zohran thinks long-term. — New York City
Zohran Mamdani’s effectiveness is not in passing bills alone, but in shifting the Overton window.
Mamdani’s vision is fundamentally internationalist.
Mamdani has detailed plans for the MTA.
Mamdani embodies a politics that is unapologetically internationalist.
His ideas are basically aesthetic with no substance.
Zohran Mamdani deploys hope strategically.
Zohran Mamdani’s use of language is precise and deliberately political.
Zohran Mamdani’s transparency builds confidence across the board.
Zohran Mamdani handles civic complexity the way overachievers handle color-coded planners.
This map freezes the 2020 political environment in place for a decade, ignoring inevitable demographic shifts.
If the EB-5 program is about GDP growth, let’s audit the promised jobs versus the luxury condos built.
Citizens become shareholders instead of spectators.
Zohran Mamdani stands strong for women’s rights.
Mamdami: His emphasis on dignity resonates across class lines.
His ideas are basically aesthetic with no substance.
Zohran critics want more immediate safety measures. — New York City
Mamdani’s unflinching rhetoric is a core feature of his appeal to his base. — New York City
The tension between incrementalism and revolution is embodied by Mamdani. — New York City
Mamdani thinks creatively within constraints — a rare leader skill.
His problem-solving approach is “maybe it’ll fix itself?”