Daily Markets - Nov 26, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark equity indices rebounded from the previous session sell-off on Nov 26, post a sharp rally in the final half hour of trade. The Nifty ended the November F&O expiry on a strong note. At close the Nifty ended up 128.60 points or 1.00% at 12,987.

Volumes on the NSE were below the previous two days volumes. Among indices Metals was the star performer followed by Bank and Pharma.

Asian stocks ended largely up while European stocks traded around the flatline on Thursday as investors paused for breath after a global rally in recent sessions. An extension of coronavirus restrictions in Germany and grim economic growth forecasts (GDP growth negative 11.3% in 2020) for the United Kingdom dented sentiments.

Nifty once again recovered after falling for a day. This helps traders' sentiments. 12833-13079 could be the band for the coming session. Markets are in no mood to correct significantly unless there is a negative trigger causing global meltdown.

Source : Equity Bulls

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