Ahead of Market: 10 things that will decide stock market action on Monday
The benchmark BSE Sensex gained 843.16 points or 1.04% to settle at 82,133.12, while the broader Nifty 50 index closed at 24,768.30, higher by 219.60 points or 0.89%.
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 smartly recovered from the day’s low and moved out of the consolidation path led by index heavyweights.
“A gradual easing in food inflation and a price hike by FMCG companies, along with a recent correction in valuation, supported the sector to outperform. Currently, the market is anticipating a revival in consumer spending, driven by the festive season and year-end holidays, adding to the sentiments. Additionally, expectation of an increase in US spending is propelling the IT sector," Nair added.
US markets
Major stock indexes on Wall Street drifted to a mixed finish Friday, capping a rare bumpy week for the market.
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