Markets Daily - Nov 24, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian equity benchmark indices ended at a record closing high on November 24 ending higher for the third straight day. Nifty opened gap up and remained in a 75 point range through the day. It ended at the intra day high. At close, the Nifty ended up 128.70 points or 1.0% at 13,055.20.

Volumes on the NSE were a little lower than the previous three days. Among sectors, Banks, Auto, Metals, Realty and Pharma indices were the main gainers.

Asian shares were mostly higher and European stocks rose on Tuesday, buoyed by optimism that vaccines will end the coronavirus pandemic, as well as signs of an orderly transition in the U.S.

Germany's economy grew by a record 8.5% in the third quarter (vs the initial estimate of 8.2% growth and vs -9.8% fall in the second quarter).

Intraday dips are being bought into. Advance decline ratio remains very positive. Stable and gradual move towards Nifty 13200-13250 continues on expected lines.

Source : Equity Bulls

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