Ahead of Market: 10 things that will decide stock market action on Thursday
cash reserve ratio (CRR) by the Reserve Bank of India (RBI) later in the week.
The benchmark S&P BSE Sensex gained 110.58 points or 0.14% to settle at 80,956.33, while the broader Nifty 50 index closed at 24,467.45, higher by 10.30 points or 0.04%.
Here's how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said the domestic market maintained a positive trajectory, despite some volatility stemming from mixed sentiments in Asian markets due to the situation in South Korea, adding that the broader indices showed strong performance, with the banking and financial sectors continuing to excel.
“Conversely, auto stocks were impacted by mixed November sales results. The upcoming speech by the Fed Chair could sway market sentiments, as recent Fed minutes have shown confidence in the easing of inflation. Although the effects of US policies under the new administration remain uncertain, the minutes suggest a probable continuation of the rate easing cycle," added Nair.
US markets
Wall Street's major indexes rose on Wednesday, with the S&P 500 and Nasdaq reaching record highs driven by technology stocks, as investors awaited Federal Reserve Chair Jerome Powell's comments.
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